Mass Effect 2 has recently been re-released on the PS3 and for the most part it’s a solid experience. However, some people are complaining about a freezing issue with a loss of data stored. This means that if the game freezes up on you, there’s a good chance that you are losing your save game files as well. It’s being reported that the save becomes corrupted on the freezing error rendering it unplayable. Bioware is aware of the issue and is working on a fix for the problem but no quick fixes have been mentioned to combat the problem.
Bioware has issued a response on their forum telling users to remain calm. Chris Priestly addressed the issue.
Just to make it clear, we are aware of this issue and are working to understand what is occuring and how we can fix it. If you are encountering this issue, please provide details about your PS3 and your playthrough.
Rest assured their will be an update in the near future to remedy the problem, but if you already have a few hours logged into the game you might want to be careful about the playing until a fix has been found.
Source: Bioware Forums