What does this mean for you? Well it basically means that iPhone 5 (and iOS 5) should get an (untethered) jailbreak sooner than what was previously expected.

The exploits were discovered by the Chronic Dev Team. A key member of the team itself namely: P0d2g, found exploits like 24kpwn, steaks4uce and also discovered an exploit in the Apple A4 chip, used in iPhone 4, original iPad and iPod touch 4G. p0d2g and p0sixninja are members of the Chronic Dev Team, who were the key developers/hackers behind the famous jailbreak tool Greenpois0n, which back then was the only method available to jailbreak iOS 4.2.1 completely untethered.

Since the jailbreak will be userland, it will work on all iOS devices on all exploit-ready iOS versions, and as mentioned earlier, get an untethered jailbreak for iOS 5 at launch. P0sixninja also quoted that the it will be the most amazing jailbreak yet! So we have high hopes for this one, we’re sure the Chronic Dev Team is bound to please the jailbreaking community with said jailbreak. So yes, the iPhone 5 will highly likely be jailbreakable soon after launch, though the Chronic Dev Team said that they would need the new iPhone 5 itself to see whether the exploits work or not, but, fingers crossed!

Stay tuned as we will keep you updated as soon as we get more info about this!