Locked of the Hackintosh forums announced that a TIFF exploit on iPhone's 1.1.1 firmware has been discovered and could potentially be the key hackers have been looking for to crack the system. The method was discovered by Niacin and is essentially the same method that was used to "open up" the PSP firmware.

The iPhone hackers got it to work by opening a specific TIFF image which in turn crashed Mobile Safari thereby creating a buffer overflow. Once they got to this stage, it allowed them to launch unsigned code on Apple's newest baby. Later posts from Locked further confirmed that code execution was indeed possible using the hack and a proof of concept code will be released very soon.

While this is in no means a complete crack of the unit, this newly found backdoor into the system could lead into the development of custom firmware and potentially homebrew for iPhone.