At one point a couple of years ago, for testing purposes, I created a brain wallet (that is, a short phrase that when hashed would yield a key pair) in Bitcoin testnet so that a group of people could each have access to them for testing purposes. It was just a simple substitution -- a common enough word with 3's and !'s mixed in. For testnet coins, which are worthless, it seemed harmless enough.
It was "stolen" literally minutes after first depositing the coins at the address; we assumed by someone running a monitoring daemon looking for a large rainbow table of bitcoin addresses, and testing out there efforts on the testnet. I wonder how many bitcoins they managed to extract once they put their system into production.