Chinese team “Pangu” have released a jailbreak for iOS 7.1.X, and compared to previous sketchy releases, this jailbreak does indeed seem to work. While the jailbreak installs Cydia jailbreak package installer application, it also installs a sketchy Chinese pirated app installer.
Currently the jailbreak tool only works on Windows however plans of a future Mac OS X version are in the works. The download file takes up a whooping 70 MB which does raise some warning flags, as to whether the file includes more than just the jailbreak tool.
Famed jailbreak developer iH8sn0w commented on Twitter:
Aside from the piracy store and enterprise certificate… The pangu.io jailbreak does not have “spyware” or malicious trails.—
(@iH8sn0w) June 23, 2014
If you want to test the jailbreak feel free to download it from their site, and yes the whole site is indeed in Chinese.