Many blogs have been talking about it in the previous weeks and now it’s finally released. The iPhone Dev Team have released their secret jailbreak weapon the iPhone Pwnage Tool (also works for iPod Touches), as you would imagine what it does is jailbreaks your iPhone so that it will be able to install and run any of your favorite native iPhone application as well activate and unlock your iPhone to use it in any compatible GSM networks.

As the iPhone Dev Team describes, the Pwnage Tool involves two basic but clever components:

Pwner - tool to make your iPhone/iTouch “pwned”. You will have to use this tool just once.

IPSW Builder - by using this tool you will be able to modify the .ipsw filesystem, i.e. pre-jailbreak, pre-unlock, pre-activate, and create a complete custom .ipsw installation. In case you are already unlocked you can even tell it to disable the baseband update, just in case. Restore or Update from iTunes with custom .ipsw file.

In order to use both of those above all you need is an iPhone / Touch running firmware version 1.1.3 / 1.1.4, then use the iPwner tool to “pwn” your iPhone, use the IPSW builder tool to create a custom .ipsw installation which is jailbroken, unlocked and will come bundled with additional software which can then be used to restore or update your iPhone from iTunes to give you a jailbroken, activated and unlocked iPhone.

The iPwner and IPSW Builder are both very simple to use, available as simple buttons when you launch the iPhone Pwnage tool.

It is important to note here that before hacking your iPhone it is always a good idea to take a backup of your iPhone in iTunes so that in the worst case situation if things goes horribly wrong you can always restore the iPhone as if nothing ever happened!

As you will be aware from this post title, the Pwnage Tool for Windows users isn’t yet available, however, we know it is currently being developed at its later finishing stages and should be released in no time! Stay tuned!

Meanwhile, check out how the iPhone Dev Team uses their Pwnage Tool in this video:

Click here to start “Pwning” your iPhone / Touch now!

[via iPhoneHacks, iPhoneDevTeam]