Good news for folks who will be buying the new iPhone 4 because George Hotz (a.k.a. geohot) has confirmed that he is working on an exploit for it and he believes it will work. He said this during the “nuit du hack” meeting in Paris.
iOS 4 was released to the public today and already ultrasn0w has been updated to unlock basebands 04.26.08, 05.11.07, 05.12.01 and 5.13.04! The jailbreak tool for iOS 4 isn’t out yet but we have a guide up for those stuck on locked iPhone 3G/3GS with iPhone OS 3.1.3.
So it looks like the exploit for iPhone 4 will not take much time to be released after its launch. You can also checkout the video of meeting, but the quality is not that good.