Two days back, Apple released iOS 4.1 Beta firmware for developers. To jailbreak this new firmware, iH8sn0w has updated his Sn0wbreeze tool to Sn0wbreeze 1.8 Beta.
Sn0wbreeze 1.8 Beta successfully jailbreaks the iOS 4.1 firmware. It currently supports iPod Touch 2G, iPod Touch 3G and iPhone 3GS. The updated version of Sn0wbreeze can only be used on previously jailbroken iOS 4.0 based iDevices.

You can download the firmware from following link. The jailbreaking guide is coming soon here. If you want to jailbreak iPhone 3G on iOS 4.1 Beta, use Redsn0w 0.9.5.
Download Sn0wbreeze 1.8 Beta to jailbreak iOS 4.1
[We've removed the downloadable links from our site due to policy violation issues. Sorry for the inconvenience.]
Apple has also released a minor update iOS 4.01 yesterday to fix signal bar display. Check out the details of this update here.
