Redsn0w 0.9.6rc14 can jailbreak 4.3.2 untethered on iPhone 4, 3GS, iPad, iPod Touch 4G, 3G. These are the steps to jailbreak iOS 4.3.2 untethered using RedSn0w 0.9.6rc4. No iPad 2 support.
Dev-team released RedSn0w 0.9.6rc12 to jailbreak 4.3.2 earlier, however, it was a tethered jailbreak. Now, Dev-Team has released RedSn0w 0.9.6rc14 which features i0nic’s untethered jailbreak exploit.
How to Jailbreak 4.3.2 Untethered with RedSn0w 0.9.6rc14
Download the required stuff:
Restore iOS 4.3.2 on your iPhone, iPad or iPod Touch and keep it connect to your computer via USB.
*You can skip this step if you’re already running iOS 4.3.2.
Execute the Redsn0w 0.9.6 rc14
Hit the Browse button and select official iOS 4.3.2 firmware (downloaded in Step 1). RedSn0w will recognize your IPSW file. Then hit Next.
Now make sure your iPhone, iPad or iPod Touch is turned OFF and Plugged in to your computer. Hit Next.
Now you’ll be instructed to put your iDevice into DFU Mode. Follow the on screen instructions.
Once you’ve successfully entered into DFU mode, RedSn0w will start jailbreaking iPhone 4 or iPhone 3GS on iOS 4.3.2 tethered. When done! your iPhone 4, iPhone 3GS will be jailbroken untethered on iOS 4.3.2.