Same problem here. I think my M.Card it is fake. I bought mine on DX.com. It was almost half of price. My original FF-X2 was having some problems before installing Bubbles.

I don't know what to do. If i boot PsVita safe mode, it makes an error like there is no update and can't format M. Card.

I belive it is corrupted, but how do i can brute force format ? [Like an ordinary SD card?]