Surprise! Within 24 hours of iOS 4.3 Beta release, an unofficial PwnageTool has been developed which can jailbreak iOS 4.3 on iPhone 4. The support to jailbreak other idevices (iPhone 3GS, iPod Touch 3G/4G and iPad) on iOS 4.3 will be added later.
This version of PwnageTool doesn’t preserve the baseband when you cook custom firmware with it. So if you rely on unlock, you should keep yourself away from this jailbreak method.
Before upgrading your device to iOS 4.3, it is highly recommended that you save the SHSH blobs for iOS 4.2.1. If you don’t have SHSH blobs saved on Cydia server, you won’t be able to downgrade iOS 4.3 to iOS 4.2.1.
Here is the step by step process to jailbreak iPhone on iOS 4.3 using PwnageTool:
Step 1: Download the PwnageTool (from here http://www.mediafire.com/?3mhym1mauh0s9vc) and iOS 4.3 (dev only) for your iPhone.
Step 2: Download the latest version of iTunes and install it and reboot your PC.
Step 3: Backup all the contents on your iPhone before starting the actual jailbreak process. After the backup is completed, close iTunes and leave you iPhone connected via USB.
Step 4: Launch PwnagTool and select either Expert Mode or Normal Mode. We will go with Expert Mode.
Step 5: Now select your iPhone and click the blue arrow to continue.
Step 6: Browser for iPSW file (iOS 4.3) which you have already downloaded as mentioned in step 1.
Step 7. Now hit the Build button to cook the custom firmware and save it on your PC.
Step 8. Put your iPhone into DFU mode. PwnageTool will help you in this process. Follow the onscreen instructions for this purpose.
Step 9: After the iPhone is in DFU mode, launch iTunes and it will tell you it has found an iPhone in recovery mode. Press OK to continue.
Step 10: To install the custom cooked firmware, press the Alt/Option key and click on “Restore” in iTunes.
Now wait for few minutes until iTunes does its job. The iPhone will reboot after it has been restored successfully.
Enjoy jailbreakd iPhone 4 on iOS 4.3. [iPhoneItalia]