Reddit user "vizionx1208" in the US was sleeping last night when he was rudely awakened by a loud noise. The noise came from his Galaxy S III that literally burst into flames. Luckily vizionx1208 had the presence of mind to grab a glass of water in the room and put out the fire before some serious damage occurred. According to the user, he simply set an alarm for the next day and plugged in the phone for the night (no microwave involved, unlike the hoax last summer).
Thankfully nothing serious came of the incident other than a busted phone and a burned mattress cover, comforter and foam matress cover.
Hopefully vizionx1208 addresses the situation with Samsung or Verizon.
Check out the aftermath after the break.