iPhone hacker Comex, who was behind popular jailbreak tools such as Spirit and JailbreakMe believes that untethered jailbreak on iOS 4.3.2 might still be possible using i0n1c’s (Stefan Esser) existing jailbreak exploit for iOS 4.3.1.
@comex: By the way, iOS 4.3.2 is (as far as I can see) still vulnerable to @i0n1c’s untether vulnerability.
Though this is yet to be confirmed by Stefan Esser himself, who is currently out of his hometown in Germany.
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We will keep you updated as always, stay tuned for more!