Robust invisible watermarking aims to embed hidden information into images such that the watermark can survive various image manipulations. However, the rise of powerful diffusion-based image generation and editing techniques poses a new threat to these watermarking schemes. In this paper, we present a theoretical study and method demonstrating that diffusion models can effectively break robust image watermarks that were designed to resist conventional perturbations. We show that a diffusion-driven ``image regeneration'' process can erase embedded watermarks while preserving perceptual image content. We further introduce a novel guided diffusion attack that explicitly targets the watermark signal during generation, significantly degrading watermark detectability. Theoretically, we prove that as an image undergoes sufficient diffusion-based transformation, the mutual information between the watermarked image and the embedded watermark payload vanishes, resulting in decoding failure. Experimentally, we evaluate our approach on multiple state-of-the-art watermarking schemes (including the deep learning-based methods StegaStamp, TrustMark, and VINE) and demonstrate near-zero watermark recovery rates after attack, while maintaining high visual fidelity of the regenerated images. Our findings highlight a fundamental vulnerability in current robust watermarking techniques against generative model-based attacks, underscoring the need for new watermarking strategies in the era of generative AI.