There are many reasons for a lot of withdrawals. All you can guess from such an event is: "Somewhere upstream an event caused some change in the BGP routing."
Could be a peer disconnecting/dropping a BGP session, an IXP (Internet Exchange Point) going down, or a lot of other things.
Don't forget that BGP is spanning the whole globe. 500 withdrawals are not such a big thing compared to the whole internet.
If you want to know what happened you would have to look at the individual withdrawals and look for patterns (all from the same origin AS, all coming over the same upstream/IXP, etc.). Even then the exact reason(s) might still be unclear.