Today, p0sixninja the iPhone hacker of Chronic Dev-Team announced that five bootrom exploits has been discovered on the A5 chip which is used in the iPad 2 and expected to also be used in the iPhone 5.
The news was announced in The jailbreaking convention MyGreatFest. This bootrom exploits can’t be patched by an iOS update they require a hardware update to be patched.
So, When the iPhone 5 get released, the Chronic Dev-team will test their five exploits on iPhone 5 and when they succeed, We will have untethered jailbreak on iPhone 5 / iPad 2 on iOS 5 soon.
The exploits were discovered by the Chronic Dev Team. A key member of the team itself namely: P0d2g, found exploits like 24kpwn, steaks4uce and also discovered an exploit in the Apple A4 chip, used in iPhone 4, original iPad and iPod touch 4G. pod2g and p0sixninja are members of the Chronic Dev Team, who were the key developers/hackers behind the famous jailbreak tool Greenpois0n, which back then was the only method available to jailbreak iOS 4.2.1 completely untethered.
The most amazing thing about this news that the jailbreak will be userland jailbreak which allows you to jailbreak your device via Safari browser like JailbreakMe 3.0
Via | Redmondpie