Lost Capsules are one of many collectibles in Borderlands 4 that reward you with a ton of loot. Once you get close to its location, it gets marked on the map. Additionally, Claptrap will also let you know that you are near a Lost Capsule. It’s an easy way to get some decent loot that can also act as an upgrade over your current equipment.
Here’s everything you need to know about locating and completing the Lost Capsule activity in Borderlands 4.
How to complete the Lost Capsule activity in Borderlands 4?

The primary objective of this activity is to retrieve the Lost Capsule from enemies and take it to the nearby decryption device. To locate one, search around a fast travel location where the decryption facility is available. The capsules are generally within walking distance.
Once you have the location, head toward the item and defeat any enemies guarding the area. The capsule should be nearby; grab it and head back to the device. Note that you cannot use fast travel or the hovebike as your character holds the item in your hand.

After you defeat the enemies, they do not spawn for some time. Going back the exact way you came while defeating any enemies is the best course of action. While carrying the capsule, you can sprint or use your weapons normally. If necessary, throw the item down to clear any enemies you come across while returning. Just remember to pick it back up.
Decrypting the Lost Capsule in Borderlands 4

Now that you have brought back the Lost Capsule, all that remains is to insert it into the decryption device and claim your loot. Put the item into the device and wait for a few seconds. It will dispense your reward, which can include cash, weapons, shields, repkits, or enhancements.
You may get a better item in the loot, but if not, sell them for some extra cash. As soon as you get the loot, the activity will be marked complete, and you will get the related Storage Deck Upgrade (SDU) points.
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Edited by Mayank Singh Rathour