The codes protecting the content of individual discs have been cracked by these guys over at doom9.com. The security algorithms for all aspects of the discs, including processing key, media key and volume ID were figured out. Early on, user Arnezami says: “This means that (especially for future software player updates) there would be no need for anyone to do a memdump/debug or anything. Only once per Media Key Block Version does the Media Key have to be extracted by one person in the world. If this is released everyone can decrypt any disc!!” Now FSD doesn’t really know what a memdump is, but we’re guessing memory dump. Sounds like something one would like to avoid.
Later on page 6, the Processing Key is discovered by user arnezami. User hd1080p says: “February 11, 2007 is a day to be remembered. I predict that movies will one day be liberated without DRM and we are all going to loose all the fun and excitement. Fairuse wins!!” Pretty awesome.