Suggestion:
You don't have to restore it just yet. Try the other steps in safe mode before you attempt that. Here is a guide to using safe mode. http://playstationlifestyle.net/2009/10/14/keep-your-ps3-safe-with-this-guide/ If none of the steps work that means your system is probably overheating and will eventually break down. Freezing and a loud fan noise are the first signs that your system is on it's way to malfunctioning.
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