Stefan (i0n1c) Esser discovers iOS 5.1 Jailbreak exploit and successfully jailbreaks iPad2 on 5.1
Stefan (ion1c) Esser, the now infamous German hacker who brought us the untethered jailbreak exploit for a majority of the iOS4 firmware revisions has done it again. As you already know, A4 devices have already been able to be jailbroken on 5.1 tethered, since they are susceptible to the limera1n bootrom exploit which can never be patched. However, pod2g and the others have been hard at work trying to locate vulnerabilities in the 5.1 firmware itself so that jailbreaks can extend to A5 devices(iPad2 and iPhone4S) and also to the upcoming A5X device, the New iPad.
Earlier today, Stefan posted pictures on his twitter account of his iPad2 running 5.1 jailbroken with Cydia running. This is great news for A5 device owners and those who have pre-ordered their iPad3 which will most likely be susceptible to this exploit as well.
There has been no word whether or not this jailbreak will be untethered or any sort of estimated time of release, but we can only imagine that it won't be long until this exploit is implemented into the jailbreaking tools for all to use! Stay tuned!