Greenpois0n RC5, the iOS 4.2.1 jailbreak for iPhone 4, 3GS, 3G, iPod Touch 4G, 3G and iPad will be out soon! p0sixninja, the dev behind Greenpois0n has confirmed in a tweet that Greenpois0n RC5 is right around the corner.
Unfortunately, for now, Greenpois0n RC5 will provide tethered jailbreak for latest devices like all other jailbreaks available to general public to date.
So, expect a tethered jailbreak for iOS 4.2.1 withing few days from now. However an untethered iOS 4.2.1 jailbreak tool will take some time because Chronic Dev-team has not yet worked on the exploit.
We will keep you posted as soon as a the Greenpois0n RC5 is out! Stay Tuned!
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