Simply awesome! Chronic Dev Team has finally managed to get untethered jailbreak on iOS 4.2.1. p0sixninja, a member of Chronic Dev team has just posted a demo video of jailbreaked iPhone booting untethered while running on iOS 4.2.1.
Though iOS 4.2.1 untethered jailbreak using Monte technique is already available on iPhone 4, iPod Touch 4G but only for those who have iOS 4.2b3 SHSH blobs saved on Cydia server.
We hope that this new technique / exploit will allow users to get untethered iOS 4.2.1 jailbreak on all idevices without using any type of blobs.
Here is demo video:
No official ETA for this next jailbreak tool is announced by Chronic Dev Team. However, it is being expected that Greenpoison will be updated to support iOS 4.2.1 untethered jailbreak instead of releasing a new tool with new name.