I died due to that bug several times already, since I got teleported back to nowhere just when I arrived at a small town with a fountain to drink something...

Hm, I've been switching servers (mostly due to loosing connection) quite often, 5-6 times per day for 3 days now, and I never had my character reset, no matter the daytime. The only thing I noticed was that my position got switched quite often. Once I was near an airfield, switched server and suddenly I was back at spawn area, but fully equipped.