While jailbreaking your iOS device has become simpler and safer over the years there has always been a risk of bricking your phone or voiding your warranty. The iOS 7 jailbreak (evas0n 7) was also released in a cloud of rumors and controversy making some iOS users weary of installing it. The developers behind evasi0n have since addressed the rumors and responded to the controversy surrounding their partnership with the Chinese App Store Taig.
You can learn how to install evasi0n 7 here.
UPDATE: Hacker geohot has reversed the evad3r’s evasi0n7 app and said he did not find anything dodgy. You can read his long explanation here.