Sherif Hashim has discovered an exploit which may allow for the unlock of the iPhone OS 3.1.3 baseband (05.12.01).
MuscleNerd from the iPhone Dev-Team has confirmed it working and Hashim has said that the timing of the release is totally up to them.
Musclenerd confirmed it working :)))) timing of 5.12 unlock release is totally the dev team opinion
Congratulations Sherif!
We will provide updated tutorials with instructions on performing the unlock once available.
*Update: iPhone Dev-Team says "We’ve started to look at his crash but it’s a long road between any given crash and a fully working unlock, and we couldn’t put an ETA on it even if we wanted to. It’s not even guaranteed that an working unlock will come from this particular crash — it’s just too early to tell.
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1st of all, he discovered a hole (looks like for an overflow), the exploit has still to be made. you really need to learn about the terms of hacking
2nd: this probably won't end up in pwnage tool or redsn0w, instead it will be released similar to ultrasn0w
3rd: I hope they will preserve this one for 3.2