Earlier today we posted about Gull1hack team [Check Here] who claim to have a working jailbreak and unlock exploit for iPhone 3GS and iPod touch 3G. Team claims that the operation is very simple and the code is sent when the device is in recovery mode, as with Blackra1n or Redsn0w and you should be able to perform the untethered Jailbreak even on new iDevices. They also claimed that they updated Blacksn0w to Blacksn0w V2 with a few changes to make it work with the new Commcenter from 3.1.3!
A moments ago team Gull1hack posted a new video to clear up doubts (we are still doubtful). In the video we can see that f0recast is used to reveal the nature of iPhone, It shows a week 46 iPhone 3GS. And then untethered reboot.
Update : Musclenerd confirmed Gull1Hack team is fake.
Once Again : The jailbreak tool has been neither confirmed by Geohot nor from the iPhone Dev Team. We are trying to get their response. If the program will be genuine, we will update you with the news and guides to unlock your iPhone. So you guys better to hold your horses and stay tuned with us for your daily feed of iPhone news. We’ll keep you posted.