Stefan Esser made a video showing an untethered 4.3.1 running on his iPod touch 4G he has passed this untethered jailbreak on to the iPhone Dev Team who are the makers of “redsn0w” an infamous jailbreaking tool.
Stefan Ester mentioned on his twitter:
I for one am more than anxious on the news of an untethered iOS 4.3.1 release from Rednsn0w. I just hope that this get’s released ASAP.
For now all we can do is wait until the iPhone Dev Team finishes their BETA testing of the new untether.
Source: i0n1c’s Twitter