No PVP unless agree to it, otherwise its first to find the chest gets to loot it and keep its contents.

Dangerous Treasures is an event that occurs once every one to two hours. The event spawns a box at a random position on the map away from all player obstructions and water.
The event opens with a barrage of rockets that blast the chest's location. A sphere surrounds the treasure chest, and a fire aura is activated which sets players on fire who enter it.
The chest is locked for a random period of time to give players an opportunity to travel to it.
A server broadcast is sent informing players of the event, it's location, and to use '/dtd' to draw on their screen where the chest is located (usable once every 15 seconds).
Players cannot build inside of the sphere, damage the chest, nor loot it until the event starts.
When the event starts the fire aura and sphere are obliterated and the chest becomes lootable. Once the contents are stolen the thief is announced and the event ends.
Treasure chests contain 6 random items of high-quality loot found in supply drops by default.

Chat Commands (not all commands are usable by players but admins commands listed here as well)
/dtevent -- Open an event at a random position on the map
/dtevent tp -- Open an event at a random position on the map and teleport to it (admin only)
/dtevent me -- Spawn an event at the position you are looking at
/dtevent custom -- Remove or set a custom spawn location for all events to spawn at
/dtevent help -- Basic help information, and display a list of monuments for use with blacklisting
/dtd -- View status of the current or next event
/dtd tp -- Teleport an admin to the nearest treasure chest
/dtd ladder -- View treasure hunter ladder for the current wipe
/dtd ladder resetme -- Reset your score for the current wipe
/dtd lifetime -- View treasure hunter lifetime scores
/dtd additem -- Modify Treasure -> Loot config in-game. This will overwrite entries in the config with the same item name, but will not update any active treasure chests. e.g. /dtd additem rifle.ak 1 10135