It only took developers one day to jailbreak the iPhone 5. Yup. Someone managed to do it on launch day, and according to chpwn (Grant Paul), claims to have jailbroken the iPhone 5 and installed Cydia.
It’s not really complete, and it needs work. Still, it’s progress for those who jailbreak and those who want a jailbroken iPhone 5.
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Waiting for a effective Jailbreak for iOS6