The latest update which we receive from the iPhone Dev-Team,For those of you who don’t know, Dev-Team’s Redsn0w 0.9.7 can already jailbreak iOS 4.2.1 untethered but it has its share of limitations. Redsn0w 0.9.7 untethered jailbreak
required SHSH blobs of 4.2b3 saved on Cydia. If you don’t have those SHSH files, you cant get the untethered jailbreak.
But if this new video of Chronic Dev Team is anything to go by, an untethered jailbreak for iOS 4.2.1 is coming real soon.
Stay tuned as we will inform you as soon as it is available for download.