We are glad to have you back, even if it is in your time of most need. Yes! You can cower in my shadow! Now fight the Stranger, Level 69. He'll die. The only way to defeat him is to make use of the Dragon Dagger. He is a fairy easy target and will take Thwait's Key.
Thaiwt will provide you with a key. Click on the Read Key button to read the key. The tunnel of the Theives is where your opponent will find you. You will find the treasure of a thousand scarabs if you look under the dunes. Pyramid Plunder is a great place to search for the man. Start the mini-game and then go to the last room (requires 90 times of theiving). There will be an action clip.
The Rogues will disappear through 4 doors. I am glad you found me. My little traps didn't throw away....... Prepare to be an actual human target practice! Martin Thwait becomes Martin Thwait (Level-215) and will Range and Melee you. He can hit up to 25 using both styles. If he passes away, Master Theif will give him the Armband. It bears the letters MT to prove his death.
Visit Straven or Katrine and talk to them. I've defeated Master Thwait! This is awesome however, do you have evidence? Yes, I have proof. It's his master Theif armband. and all his gold initials. Katrine/Straven might stare at it, then snap out. This is fantastic. My associate will show you the ropes. Katrine/Straven will give you a map, and you will arrive at a shocking "associate". Omart (or Slug when you've finished the quest) is your associate. Talk to him to complete this quest!
Quest rewards Thwait's Tome: Provides 8.5k for any 2 Skills you choose above the level 35. Thwait's (P+) Dagger. Master Theif Armband (To Equip: You deserve it! The name of your player is on it. 11,500 Theiving XP.