Just found out that a new website
ishatter.net is now up and running claiming to have an untethered jailbreak solution for your iDevice running iOS 5. Stay away from it as it’s nothing official and it’s most likely a virus or a malware software that will install and infect your computer once executed.
The jailbreak community is working on an untethered jailbreak for iOS 5 and you’ll be the first to hear the news here! For now, you’ll have to rely on the tethered jailbreak solutions out there