as mentioned above it is almost certainly the chafer coming apart. I have had one tyre (not a conti) that failed in such a way that I think the missing/damaged chafer was responsible; the failure mode was that the tyre split, starting where the rim touches the part of the tyre that flexes against it. This caused one of the two plies to fail first, so that the tyre developed a large 'S' shaped wiggle in it before it let go completely.
I have seen other people's contis develop a similar wiggle and usually, when the tyre was examined the rim had clearly contacted the tyre sidewall directly, (missing/displaced chafer, or badly seated tyre) which most likely started the failure.
I have very often seen the threads from the chafer wrap around the hub and cause the freewheel action to go draggy, and/or wreck the seals on the hub.
cheers