After the beta launch of iOS 4.3, Apple has released jailbreak for iOS 4.3. Now you can use PwnageTool bundle to jailbreak iOS 4.3.1 on fourth generation iPod touch. This bundle can be used to custom create jailbroken 4.3 firmware file on your 4G iPod touch. But remember this is a tethered jailbreak so you will have to restart the device in a tethered-jailbroken mode using tetheredboot utility.

Note – PwnageTool is available only for Mac users for now and is coming soon for Window users.

Here is the guide to Jailbreak iPod Touch 4G on iOS 4.2.1 using PwnageTool for Mac.

Things you will need:

PwnageTool 4.2

4.2.1 iPod Touch Firmware

4.2.1 (4G): iPod4,1_4.2.1_8C148_Restore.ipsw

Step 1

Create a folder called “Pwnage” on desktop and IPSW file works best when downloaded using Firefox and Safari.

Step 2

Double Click and drag the PwnageTool icon to the Pwnage Folder, to launch PwnageTool application. Click OK if you get warning from DevTeam.

Step 3

Select “Expert Mode” from the available top menu bar.

Step 4

Upon selecting your iPod, you will locate a check-mark on phone image. Then proceed with the blue given arrow to continue.

Step 5

You will then find “Browse for IPSW” page. Click on it and select your firmware from Pwnage folder to Open from the popup window.

Step 6

From the options available click “General” that will allow you to decide the partition size. Then click next with the blue arrow.

Step 7

Now the Pwnage process is ready to start, click the “Build” button to and click next to begin.

Step 8

Now PwnageTool will generate custom cooked iOS 4.3.1 for your device. Save your custom .ipws file and save it to the Pwnage folder present at Desktop. Building IPSW might take 10 minutes and enter admin password after the process.

Step 9

Now Pwnage tool will ask you to put your device in DFU mode, make sure you are connected to the Machine via data cable. PwnageTool will Snow guide you to put your iPod into DFU mode.

Step 10

After your iPhone is successfully incorporate in DFU mode, Pwnage will prompt you to launch iTunes. Hold the Alt/Option key and click Restore in iTunes.

Step 11

Navigate to the Pwnage folder on your desktop using the dialog window that appears. Select the custom IPSW that was created and click the Choose button.

Step 12

iTunes will now restore the firmware on your iPod. This can also take up to 10 minutes. Once done you will be rebooted into jailbroken iPod OS 4.2.1!

Hope this guide was useful, but you are jailbreaking any device for the first time then make sure it is done under expert supervision!

via – [iClarified]