George Hotz (a.k.a. geohot) confirmed during the “nuit du hack” meeting in Paris that he’s already working on an exploit for the iPhone 4. He said that he posted pictures of his jailbroken iPad way before Spirit released its tool, and now he’s working hard to release its exploit once the new iPhone is released.
How he believes the exploit is gonna work we don’t know, but in the meantime check out the (blurry) video of the meeting after the break.