Hackers at Hackintosh forums seems to have discovered the TIFF Exploit for hacking into iPhone's 1.1.1 firmware and probably crack the system.
The method was discovered by hacker known with nick (Niacin) and seems that the method is same as used on PSP (Portable Sony PlayStation) for bringing it to homebrew system.
The iPhone hackers realised that by opening a special TIFF image which in return will crash Mobile Safari browser and create a buffer overflow and launch unsigned code on Apple's iPhone which can later be used for cracking the whole system and probably release of new hombrew system for iPhone.
As for now this is yet unfinished crackdown of Apple's iPhone but this could open the doors to a new Unlocked iPhone.
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