Corrupting A Binary File By Interpreting It As Text
Perl 5, 62 53 bytes



y/\x80-\xff/\0-\c?/;s/\e(\[.*?[a-z]|.)|[^\t\n -~]//gi


Try it online! No, I don't know how to input nonprinting characters, particularly illegal UTF-8 sequences, into TIO. Edit: Saved 10 bytes thanks to @NahuelFouilleul.