After months of waiting, an untethered jailbreak compatible with iOS 5 was finally released in late December. However, it does not work with A5 devices. The exploit is effective on a number of products, including both the iPad and the iPhone 4.
Multiple jailbreak developers are reporting that Apple has patched the Corona exploit, used in the untethered jailbreak, in the latest version of its mobile operating system iOS 5.1.
The software is still in developer beta. However, considering that there have been three versions released, it cannot be long until iOS 5.1 goes public. And although this has not been confirmed by MuscleNerd or any other prominent Dev Team member, if you have any intentions of keeping your jailbreak, you should probably stay away from it.
A tweet said:
So yeah, iOS 5.1 Beta 3 is NOT vulnerable to Corona. Update to 5.0.1 before it’s too late.
Those who are planning on jailbreaking their iPhone 4S or iPad 2 better watch out. When the time comes to make sure that your device is on iOS 5.0.1 while Apple is still signing it. Once iOS 5.1 is released, you would not have access to it.
We would look forward to report more updates regarding this and the status of the A5 jailbreak.
Source: iDownload Blog