Bottle conditioned beer is less prone to oxidation than any other beer because when done well, it starts with zero oxygen.
This said, if kept warm for a long time or cold for a much longer time, oxygen ingress through the cap will eventually oxidize the beer.
Of course, if not bottle-conditioned properly, it can happen, but that's another topic.
I vote for contamination.
"It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts." - Sherlock Holmes (A. Conan Doyle)