"NEW YORK - A teenager in New Jersey has broken the lock that ties Apple’s iPhone to AT&T’s wireless network, freeing the most hyped cell phone ever for use on the networks of other carriers, including overseas ones." -The Associated Press on msn.com
George Hotz and a group of hackers recently unlocked the iPhone and had posted the 10-step process on the internet for everyone to use. The process enables iPhone holders to unlock their phone so it will take any sim card from any network the user chooses. The iPhone would only accept AT&T sim cards in the US.
Users are warned that the 10 step process can be very complicated and may be fatal to the phone. The original iPhone Hotz unlocked is up for sale on eBay and as of right now is at $2,250.
“So patch out the [carrier] lock; voila, unlocked Apple iPhone,” seventeen-year-old Hotz said.
Check out the process "recipe" here at Hotz's blog Finding JTAG on iPhone.