Yet another exploit has been found in the latest released iPhone OS 3.1.3 by the infamous iPhone hacker George Hotz or @geohot as he’s better known. George is confident that those who have upgraded their iPhone 3G, 3Gs to OS 3.1.3 accidently or intentionally and could no longer jailbreak because of their baseband 05.12.01 should worry no more.

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@geohot is in talks with the Dev team to make sure they synchronize their next release of the jailbreak tool for iPhone OS 3.1.3 and iHackintosh has published the twitter conversation between @geohotz, @MuscleNerd and @Confucious regarding their findings on the exploit. Here’s a bit of it:

<visnet_> What does geohot tweet mean?
<%geohot> its my bb exploit for safekeeping
<%Par4doX> geohot: did you turn that over to the dev team or are you doing something with it?
<%geohot> my days of turning things over are done
<%geohot> i hope its different from the one they have
<%geohot> but they prob already have it
<%geohot> its the one i orig wanted to release
blacksn0w with
<%Par4doX> it’s still there in the new bb
<%geohot> yep, just checked
<%geohot> but then opted to use xemn since it was public
<Evan> Oo, it carries over from 05.11 to 05.12?
<%geohot> why wouldn’t it, apple doesn’t fix things proactivly
<@MuscleNerd> geohot we prob should figure out a way to know if we have same exploit double blind, otherwise we may release 2 different ones at same time
<%geohot> any suggestions?
<@MuscleNerd> not sure how to do that without making it easy to brute force though
<%geohot> yea, i salted the hash
<@MuscleNerd> yeah
<@MuscleNerd> hmm maybe if we both hash the stack dump
<@Confucious> Can you two take this out of public sight?
<@MuscleNerd> the stack itself, not the header before it or the registers after it
<Her> muscle: any notice about the exploits are the same ?
<%geohot> we are working on it
<%geohot> cryptography, perfect for people who don’t trust each other

It won’t be more then a few days that we’re going to witness Geohot’s Jailbreak tool for iPhone OS 3.1.3 with baseband 05.12.01 as is evident from the conversation.