Verizon iPhone 4 users need to wait longer for untethered jailbreak than GSM iPhone 4, 3GS or any other iDevice. Recently IPhone Dev Team had released Redsn0w 0.9.6rc16 & PwnageTool 220.127.116.11 to Untethered jailbreak 4.3.3 iOS on iPhone 4, 3GS, iPod Touch 4G, 3G & iPad 1. Unfortunately Verizon iPhone 4 users are once again left out.
Thanks to iH8sn0w Windows users can use Sn0wbreeze 2.7.1 to untethered jailbreak Verizon iPhone 4 4.2.8 but if you are Mac user then here is way to jailbreak 4.2.8 on CDMA iPhone 4. iH8sn0w has released PwnageTool 4.2 bundles to jailbreak iOS 4.2.8 on Verizon iPhone 4.
Follow below step by step guide to jailbreak iOS 4.2.8 with PwnageTool Bundles.
How to Jailbreak 4.2.8 iOS Verizon iPhone 4 with PwnageTool Bundles
4. Right Click on PwnageTool App & select shown Package content & Browse to Contents>Resources>Firmware Bundles> and copy the iOS 4.2.8 bundle you downloaded in step 3.
5. Now close the window, load PwnageTool and create your custom firmware for iOS 4.2.8
6. Once you have the custom iOS 4.2.8 firmware, start iTunes and click Option+restore ( hold the option key and click on restore )
7. Browse for the iOS 4.2.8 custom firmware created using PwnageTool, select it, and wait for your iPhone 4 to be restored to this firmware.
8. We have done it. You should have jailbroken Verizon iPhone 4 on iOS 4.2.8.