There is an SMS exploit in the wild that can cause a Samsung Galaxy device (including the latest Galaxy S III) running TouchWiz to be completely reset. This exploit was first discovered by tech security researchers and proof of that concept was shown on YouTube. There are many vectors where this could be distributed and executed such as SMS, email, and QR codes. This is practically on the same level as a Zero Day attack. However, the interesting aspect is that this was mostly likely implemented by carrier request and designed by the OEM, which is Samsung. We at Gear Live have not yet independently confirmed this exploit, but other tech publications have confirmed the legitimacy of the hack. Some refer to this as a feature? As always, use of safe computer and internet practices is advised.
UPDATE: Samsung has released a patch for this exploit, and recommends that all of its users download the latest software update, which eliminates the problem.