Just like that, in less than 24 hours, iOS 5 has already been jailbroken. Dev Team frontman MuscleNerd posted photos of an iPod Touch 4G sporting the Cydia and iSSH icons. So far this is only a tethered jailbreak, which requires to be plugged in the computer at every reboot.
This jailbreak is not surprising in any ways because it is using the same bootrom exploit it's been using since iOS 4.X. Apple can only patch this bootrom exploit with a hardware update...