Update 3 : Version 4.61.1 released ! Crack is out !! [Credits to Wortel]

4.61.1

- Support for Verizon 4.2.7/8
- Added option for Adhoc vs Infrastructure for iOS 4.2.6+
- Fixed Active User Count for iOS 4.2.6+
- Fixed data usage not correct when using status bar icon
- Fixed Not Initialized Needs Respring Error (occurs after sometime)

NOTES:
Update your MyWi with Cydia, then run the patch (install the deb-file).
Reboot (Respring will bring up "Safe Mode" !)
done
uninstall the patch with Cydia (not needed any more)

Create an iPhone® WiFi HotSpot or iPad® WiFi HotSpot with a press of a finger! Wherever you are - you can connect your laptop or other mobile device to your iPhone®/iPad® easily to use your iPhone/iPad's data connection. MyWi™ 4.0 has been rebuilt from scratch to bring iPhone WiFi tethering support to iOS 4! Will work with all jailbroken iPhones (including 2G/3G/3GS/4) and iPad on 3.1.2 or later.

Features:

•Create iPad or iPhone WiFi Hotspot to connect mutiple laptops or mobile devices to share your iPhone/iPad's internet connection
•40 bit and 104 bit WEP Security to prevent others from accessing your WiFi HotSpot
•Ability to enable USB and Bluetooth Tethering on your iPhone or iPad
•Broadcasts the Network Name (SSID) - no need to fuss with creating an adhoc network on your laptop
•Shows up and down bandwith usage for iPhone WiFi Tethering or iPhone USB Tethering
•Uses less battery and much faster then other tethering apps due to native routing

MyWi 4.6 New Features (iPhone4 with iOS 4.2.6+ only):
- Infrastructure Mode with 80211.N (up to 10x faster speeds)
- WiFi to WiFi Bridging
- WPA2 Security