Georgia Tech Researchers Jailbreak iOS 7.1.2

mikejuk writes The constant war to jailbreak and patch iOS has taken another step in favor of the jailbreakers. Georgia Tech researchers have found a way to jailbreak the current version of iOS. What the Georgia Tech team has discovered is a way to break in by a multi-step attack. After analysing the patches put in place to stop previous attacks, the team worked out a sequence that would jailbreak any modern iPhone. The team stresses the importance of patching all of the threats, and not just closing one vulnerability and assuming that it renders others unusable as an attack method. It is claimed that the hack works with any iOS 7.1.2 using device including the iPhone 5s.
It is worth noting that the The Device Freedom Prize for an open source jailbreak of iOS7 is still unclaimed and stands at just over $30,000. The details are to be revealed at the forthcoming Black Hat USA (August 6 & 7 Las Vegas) in a session titled Exploiting Unpatched iOS Vulnerabilities for Fun and Profit: