Yes I left my char afk in town, came back and found out connection was lost.
Tried to re-launch the game, every time it said "Connection to the update server has been terminated."
Usually, in cases like this, flushing DNS helps, but I did flush DNS a few times and it did not work, rebooting the PC did not help either.
Finally, I was able to reconnect after rebooting the modem.
So, I guess it was not really the update server, it was GameGuard acting up again: dropping the connection, hanging up the modem, and preventing the player from connecting to the game server effectively.
GG mission accomplished!