Throughout various code, I have seen memory allocation in debug builds with NULL...
memset(ptr,NULL,size);
Or with 0xDEA
One reason that you null the buffer or set it to a special value is that you can easily tell whether the buffer contents is valid or not in the debugger.
Dereferencing a pointer of value "0xDEADBEEF" is almost always dangerous(probably crashes your program/system) because in most cases you have no idea what is stored there.