A repost by my pal Swoot.
Needed:
PlayStation 3
USB Flash Drive (iPod, PSP, whatever can transfer files from your PS3 to you Computer)
Download -
http://gamesinister.com/forum/showthread.php?1007-MW2-Prestige-Hack-ONLINE in download.
PREPARING FILES1. Go into Modern Warfare and go to Split-Screen. Create 2 new offline profiles, one called Error and the other called Prestige.
2. Exit the game and transfer the 2 profiles to your flash drive.
3. Open the flash drive up on your computer and navigate to "PS3 -> SAVEDATA".
4. You should see 2 folders, one with "PRESTIGE" somewhere in the name and the other that says "ERROR" somewhere in the name.
5. Open up the file you downloaded above, navigate to "MW2 All Prestiges" and open the .zip file of the prestige level you want.
6. In the .zip navigate to "PS3 -> SAVEDATA" and it should look relatively similar to what is on your flash drive.
7. Go into the folder that says "PRESTIGE" in the .zip and extract the "MPDATA" file to the folder that says "PRESTIGE" on your flash drive and overwrite the existing one. Do the same the for the "ERROR" folders.
UN-CORRUPTING FILES
8. Plug the flash drive back into your PS3 and copy the newly modded profiles back over to the PS3 and overwrite the existing ones.
9. Start Modern Warfare 2 and go to "Play Online" and let the Stats load.
10. Go back and go into Split-Screen and load the Prestige file.
11. Continue, start a match, commit suicide, and then end the game.
12. Go back to "Play Online", then press O and go back to Split-Screen.
13. Now load the Error file, you will get an error that takes you back to the multi-player menu.
14. Go back into Split-Screen and the Error file should load by itself, continue and then go to the Barracks and prestige. You will get another error.
15. Go to LAN and load the Prestige file.
16. Now exit the game.
BYPASSING PATCH (1.11)
17. Open PatchBlocker.exe in the file you downloaded.
18. On the PS3 navigate to "Settings -> Network Settings -> Internet Connection Settings".
19. Select "Custom" and choose the settings you have for your connection. BUT when you reach the setting dealing with "Proxy Server" select "Use".
20. Put in the IP Address that PatchBlocker.exe shows on your computer with a port number of 8080.
21. Finish the settings and save it.
22. On PatchBlocker.exe activate "Start Blocking".
23. Now navigate to "Game -> Game Data Utility" and delete the Modern Warfare 2 file. Don't worry it's just the patch, although if you have any map packs you will need to re-download them.
APPLYING PRESTIGE HACK
24. Start Modern Warfare 2 and go to "Play Online".
25. Once the stats are loaded go back and go into Split-Screen and load the Error file.
26. The error will reappear just go back into Split-Screen and prestige. You will get another error.
27. Go to LAN and load the Prestige file. Now go back and go to online and prestige.
DE-ACTIVATING PATCH BLOCKER
28. Go back into "Internet Connection Settings" and switch the "Proxy Server" setting to "Do Not Use". Save the settings.
29. Turn off PatchBlocker.exe on your computer.
ENJOY