The infamous iPhone Dev-Team has finally managed to jailbreak iPhone 3GS running on iPhone firmware 3.1. A member from the Dev-Team confirmed the news by posting an update on twitter confirming the jailbreak as successful.
3gs 3.0 pwned->3.1 pwned. Props to Musclenerd, Wizdaz and thanks Bumble-Bee & ToddJG for testing. tinyurl.com/y8sr4p3 tinyurl.com/y8z277l
The screenshot posted below from iPhone 3GS clearly shows firmware 3.1 (7C144) running on the older Modem Firmware (Baseband) version 04.26.08.
A new version of PwnageTool along with ultrasn0w can now be expected shortly which will have full support to jailbreak and unlock iPhone 3GS running on firmware 3.1. A complete step-by-step tutorial on how to jailbreak and unlock iPhone 3GS running on firmware 3.1 will be posted here as soon as the new tools are out. You can follow me on twitter or join our facebook fanpage to keep yourself updated on all the latest jailbreaking and unlocking releases.