Server Wipe
A server wipe or just simply a "wipe" in Rust is a term used to describe when a server's data is reset and all player progress is erased. This typically happens on a regular schedule (e.g. every month) or when a significant update to the game is released. Wipes can also happen in response to exploits or bugs that have been found in the game.
During a wipe, all players' bases, items, and progress are deleted, and players are forced to start over from scratch. This includes their buildings, vehicles, weapons, and inventory, along with any items or resources that have been gathered.
The purpose of the wipe is to reset the game's economy and give players a chance to start fresh and rebuild their bases. Wipes are also used to ensure that the game remains fair for all players, by ensuring that no one has an unfair advantage due to having had more time to accumulate resources and build elaborate bases.
It's worth noting that some servers may wipe only certain elements of the game such as the map, while others may wipe everything. Also, some servers may choose to only wipe certain elements such as the map, while others may wipe everything. This is ultimately up to the server administrator.
Rust updates are frequent, and wipes can happen after any update, the developers (Facepunch Studios) will announce the date and time of the wipes on the official Rust blog or social media channels.