We already know, that the iPhone 5 has been jailbroken, it's just not available to the public yet. The reason for this is become one of the bugs that makes a jailbreak functional is so good that the hackers who have discovered it want to keep it secret while they look for something else that can replace it. Once the jailbreak goes public, Apple will learn of the exploit and patch it. On top of this, we also know that iOS 6.1 is going to be released any day and the hackers don't want to release anything before then.
David Wang aka Planetbeing announced not so long ago that he has an untethered iOS 6.0.2 jailbreak running on his iPhone. He has also stated that the vulerability that has been found is great because it let's them see what is going on. They need to be able to look at the code they are trying to change, get a dump of it, otherwise they are basically working in the dark.
The worst case scenario is that hackers will have to �burn2 their current exploit in order to release a jailbreak to the public. They don't want to do this. When asked if the public will be able to jailbreak the iPhone 5, Planetbeing says that he hopes one will be released before the next iPhone comes out.
It might not sound too promising, but what we do know is that an untethered jailbreak is available for the iPhone 5. We also know that an exploit has been found and that the hackers are keeping this a secret for the moment. The reason for this, so Apple don't patch it and so hackers can keep looking for additional exploits. The future of jailbreaking is not over yet and for those who are waiting anxiously to gain full control of the iPhone 5 it is promising. We may have to stay patient a little while longer but an untethered iPhone 5 jailbreak is imminent.
