The new device manager can hypothetically remote factory reset your device if you choose to. If you have the stock recovery installed, that would wipe you media out.
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Current Devices: Nexus 5, HP 14 Chromebook (Data Enabled), Google Glass, (2013) LTE Nexus 7, Logitech Revue, Chromecast
Retired: Samsung Fascinate, Droid Charge, Galaxy Nexus, (2012) WiFi Nexus 7, Asus TF700, Nexus 4