Happens with me too. It doesn’t delete the table, just breaks it (phpmyadmin doesn’t show a row count, and WP says I have no posts)
i actually fixed the bug on my blog. looks like it was just some plugin going nuts. don’t know which one yet, but i’ve disabled them all via FTP and the logged in just fine. I tried to reactivate some of them – a few gave me error messages i’m still trying to figure out, others got back to work as normal.
flight404 – i see why you’re bummed, but keep this in mind: nobody’s working for you here.
having the same trouble on several blogs, all of them versions 2.X
could this be a security exploit?