Some tech sites claimed that the boards were to be recalled because of component problems, however Legit Reviews spoke to Gigabyte USA who said that the problem was more to do with overclocks and was being fixed with a BIOS change.
Apparently if you overclock the Gigabyte some of the Intel X79 motherboard series and throw more voltage at the CPU the power phase design on the board overheats and fails.
Gigabyte Taiwan released new BIOS versions for the GA-X79-UD3, GA-X79-UD and G1.Assassin 2 motherboards. These will help keep the boards from getting too hot and blowing up.
Gigabyte is offering to flash the BIOS for users if they are not comfortable doing it themselves and that is hardly a product recall.
However, if you want to see what happens if you do not apply the patch then you might want to see this footage of a Youtube user Japan0827’s Gigabyte X79-UD3 motherboard blowing up when running Prime95.