[Syst3m32]

Well, George Hotz (Geohot) is back to Rooting and Jailbreaking Phones. He has Recently found an Exploit in the Linux Kernel which will allow you to Root you Phone, Tablet in 1-Click! This will Work with Most to All Devices.

Check it Out Here - http://towelroot.com/

[chmod]

He didn't find the exploit, only used it to create his tool. Credits should actually go to Pinkie Pie as discussed in the thread here