sanseven,
The exact same thing happened to me. I got the same player in December. Then I found this forum. A couple of days, later I was posting that I got a hack.
This month,
colordrives seems to be shipping a lot of hacked 1GB players. I guess you will just have to wait and see.
Move over to
http://www.mympxplayer.org/viewtopic.php?p=27460 and join the "I hate colordrives" club. Let us know what happens.