How to fix Xbox One Freezone.Reboot reboot cycle?

Microsoft have announced that people who have put their Xbox One into this state can revert it by restoring the console back to factory settings by selecting "Restore Factory Default" under the System menu in Settings.

Microsoft has suggested that if you are experiencing this issue and require further assistance that you should contact their support centre, Xbox Support.

After holding power button for 10 seconds unplug the power for 30 sec. After plugging it back in, hold the controller sync and eject buttons at the same time while powering Xbox One on. Keep holding those buttons until you hear a second power on noise. A troubleshooting screen should pop up giving you the option to factory reset or update offline. My Xbox One was bricked also and would freeze up whenever I touched any button on controller.