Well, a lot of possibilities.

  • You died somewhere away from where you were.
    When we get disconnected, sometimes we keep the momentum, i.e. if you are running, you will keep running for a while after disconnected. So this could be the case.

  • Who killed you?
    Check the event log.

  • You can’t find your body regardless of the marker showing on map.
    There is a very small chance that another player found your corpse and chopped it up with a butcher’s chopper or a skinning knife like they would an animal.

  • Items decayed.
    Said player didn’t loot your bag and ran off…

And lastly, there’s no refund policy for lost items so my condolence.