Treasure chests are hidden stashes of loot, typically found in hidden areas and in enemy encampments. The loot found can be anything from ores to armor to consumable items and is usually valuable. Treasure chests always respawn in the same place and contain 4 items. If you open a chest but leave few items, the chest remains. Re-opening a chest may cause new items to appear, although this is not always the case.
Chests commonly drop scrolls which boost a certain attribute for 30 minuites when activated. Scrolls can be either level 1, 2, 3 or 4 ( the higher the level the better the boost). Level 1 scrolls are found in the Swamp of Wyrms and level 4 are found in the Sinskaald Rift. These can be sold at an Auction House.
There is also one by west Port Verecy, by the ocean side next to palm tree. Another at Glimmermoor near the death drake in his tail. And another near by the Necromancers Academy, at a waterfall (It's underwater). Also at eye of the swamp behing of where you summon a monster for a quest, Actually there're a lot of chests in this map