I equipped a backpack, which had been on the ground, and within a minute or so the server reset. Upon reconnecting the backpack was neither on my back or the ground (nowhere to be found). Though other items (a empty backpack, gas canister, pelt and fireplace), which had been on the ground a while, were all still where I left them.

My friend had been tending the fire at the same time as I had been re-equipping the backpack. He removed 5 cooked steaks from the fire and put on some uncooked ones - reset - upon reconnection the cooked ones were neither in his bag or the fireplace (nowhere to be found) and the uncooked steaks were back in his bag.