According to Osho, when the leap happens, memory is not wiped out; only your identification with it breaks and distance increases. You clearly see memory as a mechanical instrument and consciousness as separate, so knowledge becomes sharper while the past no longer corrupts the present. This inner 'virginity' allows fresh, unconditioned response; memory remains a useful tool rather than your identity.
Your memory stays, but you stop thinking it’s you—you use it like a tool and meet each moment fresh.