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It is definitely a glibc issue. Here's a C snippet to reproduce:
"""
#include <time.h>
#include <stdlib.h>
int main() {
 time_t t;
 struct tm tmp;
 char str[200];
 t = time(NULL);
 tmp = *gmtime(&t);
 tmp.tm_gmtoff = 0;
 tmp.tm_zone = NULL;
 strftime(str, sizeof(str), "%Z", &tmp);
 puts(str);
 t = -2461446500;
 localtime(&t);
 t = time(NULL);
 tmp = *gmtime(&t);
 tmp.tm_gmtoff = 0;
 tmp.tm_zone = NULL;
 strftime(str, sizeof(str), "%Z", &tmp);
 puts(str);
 return 0;
}
"""
Output:
CET
PMT
Calling localtime() or mktime() with a time largely in the past seems to corrupt the glibc's internal time structures (the "char *tm_zone[]").