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Musclenerd, actually the most famous hacker amongst the jailbreak community gave a presentation on the history of iPhone unlock and baseband recently at Hack In The Box 2012 Amsterdam. Look out for the video of the presentation below to get some interesting information regarding how the unlock is made and what is the process behind it.
Aside from the baseband talk, MuscleNerd shares some other interesting information, like the fact that the Dev Team's website has seen more than 100 million hits since it went up in late 2007.
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