I have found a location in the Sea of Moving Ice in which you can fall into a hole and there is no exit. If you go to coordinates 4409, 159 you can look down and see a hole. If you drop down into it (the first time it happened it was an accident) you land in the water with a bit of land next to you. There is no apparent way out expect to use the "defeat me" function.
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(thanks for the report! I'll pass it on to the team)
PS: "Here lies our hero. He conquered Dragons and saved us all from many dangers. Unfortunately died of dehydration after falling into a hole."