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I hope you release that because protect item does not effect items in the looting bag it is subject to luring and scamming.
Convince someone to put their valuables into the bag (for example "there's a glitch where you can dupe items with it") and then simply kill them for ags while protect item doesn't work.
I can't think of anything why protect item shouldn't work for items in the looting bag, so please change this behavior.
The bag has a one time warning explaining how it works the first time you use it.
13-Mar-2014 12:24:25