My character got randomly reset while joining another server. I know I did not die because I was in a safe place when I logged out.
I received the "please wait" message when joining a new server so I left because I figured the server wasn't working right for me. When I tried a new server I was unconscious. I left the server immediately since I recognized this problem from when my friend went through it.
I joined another server with low ping and was able to get in without the server hop penalty. (I had jumped through 3 servers in less than 2 minutes with no penalty).
When I finally got into the game I had respawned naked in the ocean.
I left again and tried a 4th time (no penalty again) and I spawned near Three Valleys with none of my gear.