The jailbreak community doesn’t see that kind of swift action anymore that was visible back in the old days, prior to iOS 5.0 to be precise. There are a few reasons why the pace has slowed down. Even if developers find an exploit they hold off on a release if a major update is expected in the near future. That appears to be the reason why an iOS 7.1.1 jailbreak hasn’t been released as yet. After two separate developers teased their creations there’s now another who shows off an iPhone 5s iOS 7.1.1 untethered jailbreak on video.
Its actually a couple of researchers at the Georgia Tech Information Security Center. Yeongjin Jang and Tielei Wang claim that they were able to achieve this jailbreak last month. It bypasses sandbox, gets root access and bypasses codesign to pump the device with Cydia, “the other App Store” for tweaks and apps not allowed by Apple.
Even though these two are new to the community well known jailbreak developer @i0n1c appears to confirm the legitimacy of this jailbreak. There’s no indication as yet if any of the three iOS 7.1.1 jailbreaks we have seen up till now will be released to the public in the near future. Developers are apparently holding off for iOS 8.0 to see if they exploits they have are compatible with the next major update or not.