The iOS 7.1.1 jailbreak for iPhone, iPad and iPod was finally released on June 23 by the PanGu jailbreak team. The jailbreak appears legitimate but users are advised to wait longer and steer away from downloading the jailbreak until it has been analysed by reputable devs.
According to @iH8sn0w, a jailbreak developer, PanGu is not a source that majority will want to trust. @iH8sn0w tweeted, "Aside from the piracy store and enterprise certificate... The http://pangu.io jailbreak does not have "spyware" or malicious trails."
It looks like the new jailbreak requires using a revoked enterprise certificate and adds a new piracy store for Chinese user, not to mention that the iOS 7.1.1 jailbreak from PanGu also auto installs AppSync, which has caused a number of issues for jailbreakers.
That being said, trusting this jailbreak is still questionable until something is heard from known jailbreak teams such as the evad3rs and iH8n0w.
Meanwhile, @iH8sn0w reported that the iOS 7.1.1 jailbreak by PanGu team does not install any malicious trails or spyware but it does not guarantee that users are safe from other means of malware that could be downloaded from the jailbreak. As such, it is recommended to wait until other members of the jailbreak community release an analysis of the jailbreak.
Nevertheless, the issue of AppSync remains, which has previously caused known issues with jailbroken devices. Not to mention that 25pp, a piracy store is being installed by default trough PanGu. However, it has been reiterated by @coolstar that being careful and unchecking the check mark in one of the installation steps will not install the piracy store by default.
According to @coolstar, who also said via Twitter that some malware may be present with the jailbreak, if you install gingerly, malware will not be an issue. But then again, it must be noted that keeping AppSync and 25pp appear to install malware.
On the other hand, @MuscleNerd and @Comex congratulated the PanGu team on their iOS 7.1.1 jailbreak, but neither of the two have confirmed testing it or verified it safe and secure to use.