This paper deals with the security and efficiency issues of two cipher algorithms which utilize the principles of Chaotic Neural Networks (CNNs). The two algorithms that we consider are (1) the CNN-Hash, which is a one-way hash function based on the Piece-Wise Linear Chaotic Map (PWLCM) and the One-Way Coupled Map Lattice (OCML), and (2) the Delayed CNN-Based Encryption (DCBE), which is an encryption algorithm based on the delayed CNN. Although both of these cipher algorithms have their own salient characteristics, our analysis shows that, unfortunately, the CNN-Hash is not secure because it is neither Second-Preimage resistant nor collision resistant. Indeed, one can find a collision with relative ease, demonstrating that its potential as ...