On Friday, Apple released iOS 4.3.4 to plug a jailbreaking hole, and what do you know? It’s already jailbroken. Right now it’s a pretty raw hack to do it, involving manually tweaking PwnageTool, but I’m sure a more elegant version is in the works.
The big drawback is that this is a tethered boot jailbreak, so you have to plug your iPhone into your computer in order to reboot it — and it’s going to stay this way.
According to i0n1c, the current security situation means that there won’t be an untethered jailbreak for a while, saying:
In a way it is nice to see that Apple instead of merely fixing vulns add more mitigation checks. But for jailbreakers this suxx.
Don’t expect a iOS 4.3.4 untether anytime soon.
If you’re interested in why this is, there’s a bit of a writeup here.
My gut feeling is that if the jailbreak community had a loophole for an untethered jailbreak, they would be wise not to use it, and save it for iOS 5 when it’s released this Autumn.