Before we begin, we first need to point out that some people are reporting that problems do happen when using this method, so we can only suggest proceeding with a lot of caution.
We’re hearing from RedmondPie that an unofficial version of PwnageTool just got released and that this same tool is capable of jailbreaking the iPhone 4 running the first beta of iOS 4.3 that was released a couple of nights ago.
The tool uses Geohots boot-rom based LimeRa1n based exploit that is capable of jailbreaking all current iOS devices for life. But, one thing to note with this test tool is that the iPhone 4 baseband cannot be preserved which means if you are an unlocker and have preserved your unlockable baseband from the past, don’t try it as it will overwrite it with a new one.
Full instructions of how to use the tool (after reading all the warnings), can be found over at RedmondPie.
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