Today is the day of MyGreatFest, the world’s first jailbreak convention, and p0sixninja of the Chronic Dev Team has announced that they have discovered five userland exploits that can be used to jailbreak the iPad 2 and the upcoming iPhone 5 in iOS 5.

Good luck to the Chronic Dev Team and hope that the jailbreak killer (Apple) doesn’t fix these exploits first.
pdates, as they are not hardware-level exploits. The good news about this type of exploit is that an updated bootrom in the iPhone 5 won’t compromise the jailbreak.
Since it’s a software-level exploit, the iPhone 5 running iOS 5 should be susceptible to what the Chronic Dev Team has cooking in the exploit department. Joshua himself said, “It’s a record breaking number of exploits found.” This news reflects what we’ve already heard that the Chronic Dev Team is “actively working” on jailbreaking iOS 5.
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