Major Bug: Every entity in the game turns pink after a certain amount of time.

Me and my friend were playing Bedwars on Lifeboat when after a certain amount of time, every player texture, chest, and custom texture for Lifeboat was turning pink. We left the game to see if it would fix it, and nothing did. Even the player skin on the starting menu was pink, the Marketplace icon turned pink, rain/snow turned pink, and even loading screens. What helped fix it was restarting the game but it continues to happen after about an hour or two. We first noticed this on Xbox One and it then happened to me on the Nintendo Switch and my Windows 10 Edition, leading me to believe that this is a bedrock-wide issue. What turns pink seems to differ each time it happens. A video and a few screenshots are available. I do not know how to replicate the issue, for me I just had to keep playing. I think this is a major bug. as it is very hard to play with it.

Edit: video got corrupted