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Encyclopedia Dramatica:Article of the Nao/June 29, 2011
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LulzSec, also known as Lulz Security, Lool Sec, The Lulz Boat, is a script kiddie group that made a name for themselves hacking several large websites and subsequently taking credit for it, branding themselves with a number of memes stolen from 4chan and the general Anonymous community.
Lulzsec want to finish Sony, notably by their attacks on the PSN network. However, this actually gives them a profit as since the beginning Sony were selling PS3s at a loss, so by reducing interest in the console they save Sony money. gg