iPhone 3GS Exploit Discovered ! Jailbreak coming soon?

And it has started once again. Just as was the case when jailbreaks for the iPhone 3G were surfacing , tough it took a while back then, jailbreakers are coming up with exploits in the new 3GS which might make it easy for jailbreaking. In a recent blog post by GeoHotz, he has put up an image of what seems to be a new "exploit" he just discovered for the iPhone 3GS (yeah, 3GS!).

Click the image to open in full size.

Clearly depicted in the pic is a modified version of iBoot, which means he has somehow bypassed the sig check on the iBoot 596.24, which is the new one for the 3GS. The project he seems to be working on is what he calls "Purplera1n" or "purple rain" instead. He's even put up the site for it athttp://purplera1n.com/ though all it sports is a pic of him with the phone, getting wet in purple rain . . .

Click the image to open in full size.

Click the image to open in full size.

However, as said by some other big names like posixninja, this is an exploit which could be built into a Tethered Jailbreak and is not even sure if it will ever get developed into a full fledged "Jailbreak" due to the obstacles involved.

iZsh: my guess: he’s just playing around, I don’t think he’ll do a full jailbreak.
On the other hand, the iPhone DevTeam member iZsh has similar thoughts who believes that GeoHotz might not be working on a jailbreak solution from the scratch, especially when tools like Pwnage and redsn0w already exist. All he might do is hand it over to the Chronic Dev or iPhone DevTeam to work on it or there is even a possibility that this exploit will never be disclosed to anyone.

We do hope there's a working jailbreak based on it out soon for our 3GS folks!