Killed because too far from a grabbable object

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I'm not sure if it is possible to create something similar and practical in order to work around the limitations of the engine (since, as far as i know, you can't attach areas to objects, and GetEntitiesCollide doesn't support Player), but how about changing the game mechanic to being forced to hold the object and when placed down the user has only a certain amount of time to pick the object right back up before dying? GetPropIsInteractedWith should be able to allow for that (though i've never used GetPropIsInteractedWith before).