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1.
The act of stealing or "snatching" an item or object from another. However, it only an official snatchbox if the person who is doing the snatchboxing says snatchbox while in the act of snatchboxing sed item or object.
"Hurry up man, im trying to save you guys a seat, but people are snatchboxing seats left and right."

"He definatly just snatchboxed my poptart."
by Jacob Shepherd July 31, 2008
 
2.
the area between a womans legs, otherwise known as the vagina.
kim had such a nice snatch box
by Jo Von teh H4xOR June 16, 2006
 
3.
To steal, usually done in the presence of a friend with thier full awareness as "snatch-box" is usually said before the item is taken.
When Julia said she did not want the shirt anymore I told her I was snatch-boxing it to take it off her hands.
by Sarah July 29, 2003