The Chronic Development Team, a group of hackers who specialize in mobile devices, released firmware on Wednesday that allows iPhone, iPad and iTouch users to jailbreak their devices. Security experts still know little about the underlying exploit used to jailbreak the devices, beyond claims from the group that it is located in the boot ROM low level code that is run immediately by the device s processor when it is powered on, and that loads the firmware (or operating system) that manages the device.
Source: https://threatpost.com/new-jailbreak-could-defy-patching-iphones-ipads-091010/74449/