The H1Z1 website points to patch notes on Reddit for SOE's Daybreak's zombie survival MMOG indicating that its latest update also involves a full server wipe (thanks Ten Ton Hammer). A separate post has further details on the wipe:

Tomorrow as part of our normal game update, we will be doing a complete server wipe. What does that mean for you? Think of it as a factory reset. We are going to be wiping the world clean of any player built structures, vehicle placement, everything. We are also going to be doing a full character wipe as well. Your characters will not exist on any servers, so you will have to create new ones.

What won’t be going away are any account locked items. These items are things like crates and crate keys. All the cosmetic skins you found inside the crate or won from Battle Royale will be safe and be locked to your account. The things that will not be safe are anything you have on your character or hidden in the world at the time of the wipe.

For people who purchased the Premium or upgraded to the Premium Edition will be topped off up to 3 Airdrop Tickets. If you already have 3 or more Airdrop Tickets you won’t be receiving any additional ones. This won’t happen at the exact time of the wipe but will be granted to your account within a few business days afterward.

Full server wipes are a part of Early Access and this won’t be the last one. They help make the game better in substantial ways. We appreciate your support in H1Z1 and the game has already grown a huge amount because of the collaboration between us.