The new iPhone PwnageTool for the iPhone has been released just a few hours ago. It jailbreaks and activates both iPhone generation. It unlocks only first-gen iPhones! It DOES NOT (yet) unlock the iPhone 3G.

Everything you do after this next line is totally up to you. I won’t take any responsibility if the iPhone eats your children or does anything else! PwnageTool 2.0 as of this moment is only available for Mac OS X. (more…)