In survival mode using an empty bucket on water consumes the bucket and removes the water. Using a bucket with water on the ground consumes the bucket and places the water.  Both scenarios result in the bucket disappearing.

This is for Java edition, version 24w34a.

To replicate (version 1):

1. Get/craft/spawn an empty bucket.
2. Ensure you are in survival mode.
3. Use empty bucket on water source.
4. Bucket disappears and water is removed.

To replicate (version 2):

1. Get/craft/spawn a water bucket.
2. Ensure you are in survival mode.
3. Use water bucket on ground.
4. Bucket disappears and water is placed.

I could not find a post relating to this specific issue, only old posts about crafting recipes removing the bucket.