Ultrsn0w Fixer 4.3.2 is now available in Cydia. You can get it to unlock iPhone 4 4.3.2 or 3GS 4.3.2. As Ultrasn0w 1.2.1 is not compatible with iOS 4.3.2, Ultrasn0w Fixer for iOS 4.3.2 makes it compatible with it. However, its not a new unlock and doesn’t support the newer baseband versions. It just makes Ultrasn0w compatible with iOS 4.3.2, like ultrasn0w Fixer 4.3.1 did for iOS 4.3.1. So, you need to have updated to iOS 4.3.2 while preserving your baseband. iPhone 3GS users can also update iPhone 3GS baseband to the iPad baseband.

You can download Ultrasn0w Fixer 4.3.2 from Cydia. Simply search Cydia for Ultrasn0w Fixer for iOS 4.3.2 and install the fixer. Then run ultrasn0w, unlock iPhone 4 4.3.2 / 3GS 4.3.2 and reboot your device.

First, you will need to jailbreak iOS 4.3.2 with PwnageTool Bundles 4.3.2.