Well, the same thing happened to me again today.  I'd quit and logged back in a few times without the dehoarding system taking anything.  Then this last time it took every single spare piece of armor and jewelry I had.  I think it was 3 pieces, a vest, a crossbow, and a ring.  I also lost several staves.  I lost my blacksmith repair hammer?  I mean really?  5 obsidian a pop.  
PLEASE REDEFINE WHAT A HOARDER IS AND TARGET PEOPLE, NOT ITEMS!!!!  The system should NOT be targeting people who are participating with high levels of hours, especially for store bought staves.  It should be targeting hoarders!  I thought the entire idea of this system was to keep items in the game instead of being stuck on some storage char who doesn't log in.  Several of the staves I lost I'd used within 12 hours of the following logs.  But if for whatever reason it is impossible to stop targeting people that play all the time, at least make it transparent what we will and won't be allowed to keep and what is triggering things getting stolen.  As far as I knew, I could have 6 weapons/armor/(jewelry I wasn't clear on) and I was certainly under those restrictions.  I also logged off, logged on without anything happening and didn't acquire anything, logged off, and logged back on a few hours later and lost a pretty significant amount of items.
Literally nothing changed on my character between these two logins.
Connected to host mud.shatteredkingdoms.org
\       __        |             \_   /                    \_   __/
    |    _/  \  ____/                \_/                       \_/
    \   /     \/    \                  \          _____        /_
     \_/    _____ _  \       _______   /_        |  _  |      /  \ _
           |  _  | |  |     |__   __|_/| |_ _____| | | | ____/    | |
           | |\|_| |   \_____  | |/  |_   _|  _  | |_| ||  _  |___| |     ___
 __       /| |_\_| |___|___  | | |\    | |\| |_| |  _ | | |/| |  _  |\   /
/  \_   _/ |___  |  _  |__\| | | | \   | | |  ___| | | ||  ___| | | | \_/
     \_/    _  | | |\| |  _  | | | /   | |_| |___| |/| || |___| |_| |      _
           | |_| | | | | |_| |\| | \__ |___|_____|_| |_||_____|_____|     / \
           |_____|_|/|_|_____| |_|_/ _\   /  ___   ___                  _/
        _   _     _/  \_/ \/    \_  | |\_/  |   |_|   | _____    __    /
       | | | |   /        /       \_| |_    |  _   _  ||  _  | _/  \__/
       | |_| |_ / _      / _____ ___| |_\___| | | | | || | |_|/ \
       | |  _|_| | |___  \|  _  |  _  |  _  | | | | | || |__/    \_
       |   |_/_  |  _  | /| | | | | | | | | | | | | | ||___  |     \
       | |_  | | | | | | \| |\| | |_| | |_| | |\| | | | _/ | |      |
  ___  | |/| | |_| | | | /|___  |_____|_____|_| |_| |_|| |_| |       \__    _
 /   \ |_| |_|___|_| |_|/  ___| |\                \_ / |_____|          \_ /
/     \__/            /   |_____| \_                \                    \
     _/              /              \               /             --nada:98--
    /                |               \             /                     /
  DikuMUD by Hans Staerfeldt, Katja Nyboe, Tom Madsen, Michael Seifert, and
Sebastian Hammer.  Based on MERC 2.1 code by Hatchet, Furey, and Kahn.  ROM 2.3
by Alander.  Shattered Kingdoms (r) copyright (c) 1996-2015.
By which name would you like to be known? 
Password: 
%%%%%%%%%%%%%%%%%%%%%%% Welcome to Shattered Kingdoms %%%%%%%%%%%%%%%%%%%%
%      Shattered Kingdoms is a MUD where role-playing is emphasized.     %
%              Player-killing is allowed based on roleplay.              %
%                                                                        %
%     All players are required to read and understand HELP RULES and     %
%        all entries listed under 'See Also' at the bottom of them.      %
%                                                                        %
%       New players should start by reading the HELP NEWBIE entry        %
%        There are also helpful HINTS in the Adveturer Academy.          %
%                                                                        %
%    The Shattered Kingdoms website has all our help files online plus   %
%       forums you can join:  
http://www.shatteredkingdoms.org" target="_BLANK           %
%         To update your forum membership access, read HELP FORUMID      %
%                                                                        %
%       Latest Code Update: 01 Jan 2016.  Notes can be found here:       %
%    
viewtopic.php?f=1&t=25924" target="_BLANK   %
%                                                                        %
%   Characters inactive for 30 days or more are deleted without notice.  %
%   Please note this game may contain content unsuitable for children.   %
%%%%%%%%%%%%%  Message of the Day (MOTD) updated: 01 Jan 2016  %%%%%%%%%%%
Press [Return] to enter Shattered Kingdoms.
Welcome to Shattered Kingdoms.
The Royal Treasury
  A dull, leaden feeling slumps about your shoulders, a kind of 
non-static charge that permeates the air of the Treasury hall. The high 
vaulted stone ceiling rears above your head, supported by broad stone 
columns braced against the walls. Stained crystal glazes the high arched 
windows, filtering in soft light from the street outside. The floor is 
paved with dull, grey flagstones. Set before the seemingly impenetrable 
vault door in the south wall is a large ironwood desk. Sat upon the 
wide, otherwise empty surface of the desk is a set of fine scales.
Obvious exits: s(closed) road
The banker Keltar is here, his gold teeth making his smile glitter.
[HP:100%] [ME: 18%] [PE:100%]
> who
You are hungry.
You are thirsty.
[HP:100%] [ME: 16%] [PE:100%]
> 
[Hum ---] Akragard, Novice Scout
[Spr Sha][FST] Ashituri - Prior to the Swan, Spirit of the Boar
[HEl ---] Eliya - Cleric of Zavijah
[Hum ---] Konnour.
[Spr Bar] Niphissent.
Players found: 5
[HP:100%] [ME: 16%] [PE:100%]
> wo
Coins carried: zero.
You have just begun your journey to the next level.
You have only recently discovered this area.
[HP:100%] [ME: 16%] [PE:100%]
> quit
Alas, all good things must come to an end.***********HOURS LATER**************
Connected to host mud.shatteredkingdoms.org
\       __        |             \_   /                    \_   __/
    |    _/  \  ____/                \_/                       \_/
    \   /     \/    \                  \          _____        /_
     \_/    _____ _  \       _______   /_        |  _  |      /  \ _
           |  _  | |  |     |__   __|_/| |_ _____| | | | ____/    | |
           | |\|_| |   \_____  | |/  |_   _|  _  | |_| ||  _  |___| |     ___
 __       /| |_\_| |___|___  | | |\    | |\| |_| |  _ | | |/| |  _  |\   /
/  \_   _/ |___  |  _  |__\| | | | \   | | |  ___| | | ||  ___| | | | \_/
     \_/    _  | | |\| |  _  | | | /   | |_| |___| |/| || |___| |_| |      _
           | |_| | | | | |_| |\| | \__ |___|_____|_| |_||_____|_____|     / \
           |_____|_|/|_|_____| |_|_/ _\   /  ___   ___                  _/
        _   _     _/  \_/ \/    \_  | |\_/  |   |_|   | _____    __    /
       | | | |   /        /       \_| |_    |  _   _  ||  _  | _/  \__/
       | |_| |_ / _      / _____ ___| |_\___| | | | | || | |_|/ \
       | |  _|_| | |___  \|  _  |  _  |  _  | | | | | || |__/    \_
       |   |_/_  |  _  | /| | | | | | | | | | | | | | ||___  |     \
       | |_  | | | | | | \| |\| | |_| | |_| | |\| | | | _/ | |      |
  ___  | |/| | |_| | | | /|___  |_____|_____|_| |_| |_|| |_| |       \__    _
 /   \ |_| |_|___|_| |_|/  ___| |\                \_ / |_____|          \_ /
/     \__/            /   |_____| \_                \                    \
     _/              /              \               /             --nada:98--
    /                |               \             /                     /
  DikuMUD by Hans Staerfeldt, Katja Nyboe, Tom Madsen, Michael Seifert, and
Sebastian Hammer.  Based on MERC 2.1 code by Hatchet, Furey, and Kahn.  ROM 2.3
by Alander.  Shattered Kingdoms (r) copyright (c) 1996-2015.
By which name would you like to be known? 
Password: 
%%%%%%%%%%%%%%%%%%%%%%% Welcome to Shattered Kingdoms %%%%%%%%%%%%%%%%%%%%
%      Shattered Kingdoms is a MUD where role-playing is emphasized.     %
%              Player-killing is allowed based on roleplay.              %
%                                                                        %
%     All players are required to read and understand HELP RULES and     %
%        all entries listed under 'See Also' at the bottom of them.      %
%                                                                        %
%       New players should start by reading the HELP NEWBIE entry        %
%        There are also helpful HINTS in the Adveturer Academy.          %
%                                                                        %
%    The Shattered Kingdoms website has all our help files online plus   %
%       forums you can join:  
http://www.shatteredkingdoms.org" target="_BLANK           %
%         To update your forum membership access, read HELP FORUMID      %
%                                                                        %
%       Latest Code Update: 01 Jan 2016.  Notes can be found here:       %
%    
viewtopic.php?f=1&t=25924" target="_BLANK   %
%                                                                        %
%   Characters inactive for 30 days or more are deleted without notice.  %
%   Please note this game may contain content unsuitable for children.   %
%%%%%%%%%%%%%  Message of the Day (MOTD) updated: 01 Jan 2016  %%%%%%%%%%%
Press [Return] to enter Shattered Kingdoms.
Welcome to Shattered Kingdoms.
The Royal Treasury
  A dull, leaden feeling slumps about your shoulders, a kind of 
non-static charge that permeates the air of the Treasury hall. The high 
vaulted stone ceiling rears above your head, supported by broad stone 
columns braced against the walls. Stained crystal glazes the high arched 
windows, filtering in soft light from the street outside. The floor is 
paved with dull, grey flagstones. Set before the seemingly impenetrable 
vault door in the south wall is a large ironwood desk. Sat upon the 
wide, otherwise empty surface of the desk is a set of fine scales.
Obvious exits: s(closed) road
The banker Keltar is here, his gold teeth making his smile glitter.
Since your last adventure, thieves set upon you and stole some of your items!