One who plays first personmultiplayer online shooters and takes advantage of lag that occurs within the game to score easy kills and achieve maximum pwnage.
Used to describe the event in which an online personal user account has been hijacked without the user knowing, usually by a friend or aquaitance in a jovial or informal manner and whereby some obvious OR subtle change has been made to derive humour to a wider audience.
Dan: my user account said "Dan just went skiing and loved every second" but now it says "Dan is a gaylord and indulges in sweet love making with bald queens". Man, i just got logbagged!
or
Dan: awww bloody hell, i just got logbagged by Jonah... changed my profile picture to that picture of a dead horse