The same group that released it jailbreak for iOS 7 also released jailbreak for iOS 8.1. Currently, the tool only works on Windows systems, it is in Chinese, and it does not installation in Cydia by default.
The jailbreak currently shows several errorand we do not recommend you to try it on your device. If you use a password accessit sticks system, there are issues with Cydia, and quite a few tweaks don't work.
Cydia has already been updated for the new iOS, but requires manual installation by SSH. If you are adventurous, you can download the jailbreak tool from by clicking here Pangu.
We recommend that you do not do so and wait until they fix the bugs.
