The communication object, System.ServiceModel.Channels.ServiceChannel, cannot be used for communication because it is in the Faulted state.
The server will automatically abort connections over which no message has been received for the duration equal to the receive timeout (default is 10 mins). This is a DoS mitigation to prevent clients from forcing the server to have connections open for an indefinite amount of time.
Since the server aborts the connection because it has gone idle, the client gets this exception.
You can control how long the server allows a connection to go idle before aborting it by configuring the receive timeout on the server's binding. Credit: T.R.Vishwanath - MSFT
In my case the reason was some wrong certificate that could not be loaded. I found out about it from the Event Viewer, under System:
A fatal error occurred when attempting to access the TLS server credential private key. The error code returned from the cryptographic module is 0x8009030D. The internal error state is 10001.