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The problem is that swap magic passes the elf path argument in another form. Any modification to that path will result in an incompatible path for the ps2sdk usb driver.
Originally Posted by JNABK
This has to be fixed in order to have a current dir correct path, you can find an example at main.c from ule source code in function main() before the while loop, with all startup routines when uledir variable is defined.
I think problem is swap magic uses / slashes instead of \.
Thanks suloku I will add this check.