An iPhone hacker, pod2g, has confirmed that he has found a bootrom based exploit that can be used to jailbreak iOS 4.1. Famous iPhone hackers MuscleNerd and cpich3g were seen on twitter mentioning their regards to pod2g for finding the exploit. Following is the screenshot of their conversation on twitter.  

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The bootrom jailbreak is actually low-level, this based jailbreak is not patchable by Apple by releasing an upgrade for iOS. Apple will have to revise the hardware of iOS 4.1 devices to get rid of this jailbreak.

[via ProgrammerFish, RedmondPie]