pod2g who happens to be a member of Chronic Dev-Team, found a new low-level bootrom based exploit which will jailbreak all iOS 4.1 on all iOS based devices. pod2g also found the first bootrom exploit ever called 24kpwn which enabled untethered jailbreak on iPhone 3GS (Old bootrom) and iPod Touch 2G (non-MC). Later Apple started to ship iPhone 3GS (New bootrom) and iPod Touch (MC) with a fix for 24kpwn exploit.
pod2g of Chronic Dev-Team and MuscleNerd of iPhone Dev-Team confirmed the exploit via Twitter:
Another iPhone hacker cpich3g also confirmed this via his Twitter account:
Just like 24kpwn exploit, this low-level bootrom based exploit would require Apple to ship all iOS based devices again to fix it as bootrom based exploits are impossible to fix through software updates. The only reason why PwngeTool and Sn0wbreeze is not able to jailbreak iOS 4.1 on iPhone 4, iPod Touch 4G and iPad is that they have fixed 24kpwn exploit before their final shipment. Now this new bootrom exploit has been found and it'll be impossible for Apple to fix this hardware exploit, so iOS 4.1 jailbreak for iPhone 4 and iPod Touch 4G wont be too far. So stay tuned!
Update1: pod2g Confirms iOS 4.1 Jailbreak Using New Bootrom Exploit
Update2: MuscleNerd Confirms iOS 4.1 Jailbreak for iPhone 4, iPod Touch 4G & iPad
Update3: SHAtter Based PwnageTool Jailbreaks iOS 4.1 on iPod Touch 4G [Video]
Update4: SHAtter Exploit will Jailbreak iOS 4.1 on New Apple TV!