Jailbreak iOS 4.0.1 (Jailbreakme 2.0)

This is a relatively simple jailbreak. I would say it's even much simpler than the previous Spirit jailbreak.
It works for iPhone 3G, iPhone 3GS and iPhone 4 as well regardless of the bootrom.

Step 1:
Sync your iPhone with iTunes for backup purposes

Step 2:
Update your iTunes to the latest version (9.2.1)

Step 3:
Update the firmware of your iPhone to 4.0.1

Step 4:
Once the update is completed, go to Settings > Safari  and make sure JavaScript is ON and clear History, Cookies and Cache (this is to prevent you from getting stuck at the purple screen later on)
 
Step 5:
Launch Safari and go to http://jailbreakme.com

Step 6:
The jailbreakme screen as above will be seen on your Safari. Just slide to jailbreak. That's bascially it. It will now download the Jailbreakme program and then jailbreak by itself. Once done, you will be prompted by a message saying that Cydia is added. Tap OK and look for the Cydia app on your phone. Done!


You can also look at this video from Redmond Pie for better illustration.

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