Popular iOS developer Planetbeing has taken to Reddit to explain in detail what is going on in the latest iPhone 5 jailbreak for people running the latest iOS 6 firmware. He explains that the work is now ready, but the public release will have to wait for several reasons we have listed below in his official statement. See what popular developer, Planetbeing has to say about it after the jump.

Yeah, I’m not really sure what all the doom and gloom is about. The fact is, I have an untethered iOS 6.0.2 JB running on my iPhone 5 now.

The reasons it’s not released are because 1. Releasing it would burn an exploit we want to save for ourselves so we can always get in to look at new firmware and help JB in the future, 2. iOS 6.1 is coming very soon and will likely break a small part of it anyway, there’s no point in sacrificing the many bugs it won’t break.

So while jailbreaking is getting harder, reports of its death are highly exaggerated.

There is little doubt that Jailbreaking has been a struggle of late with exploits becoming harder and harder to come by. It has left many believing that jailbreaking will soon be dead. However, another popular developer Pod2g took to Twitter to say his bit on the situation including his predictions for 2013. In his predictions he thinks that Apple’s operating system will become more open as users are slowly drifting away from iOS because of the difficulty to open it up, as well as the easiest to open up Android firmware and enjoy the many fruits.

Even though it is not yet released to the public, it is great news to know that the latest jailbreak is a success. In the mean time, if you own a pre-A5 device, it’s important to remember you can still Jailbreak in a tethered state using Snowbreeze 2.9.7.