Word on the street is that the read/write access has been gained for the iPhone and iPod Touch v1.1.1. This means that 3rd party applications are now available. Thanks Niacin! They are now inviting beta testers, but not yet releasing open to public.
The jailbreak was discovered through a TIFF exploit that was used to hack previous firmware on the PSP. Loading a certain TIFF file will cause a buffer overflow on the mobile Safari, allowing hackers to run their own code.
Details:
==Terminal==
iphuc 0.6.1 with tab completion.
>> By The iPhoneDev Team: nightwatch geohot ...