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I0n1c is a hacker who was behind the 4.3.1 untethered jailbreak and now he has announced that he has successfully  jailbroken the iPad 2 on  iOS 5.1, he backed this claim by posting a series of photos via Twitter.

Fingers are crossed hoping that this is the untethered jailbreak for all A5 devices, but as of right now there is no solid confirmation. We will keep you up-to-date on the status of iOS 5.1 jailbreak.