KOH just ended and figured this post will come in handy for the next time. Its an article from the Russia Team which I am so grateful for! Ty Russia Team!
"It’s a two phase event. The first phase is open for one day. During the first phase the Treasure Hunt is open and you’re getting chests from destroyed monuments on enemy bases. Chests contain different event-specific awards such as energy packs, barricades, siege weapons of different rarity, etc.
The second phase is a battle one and open for five days. The chests stop dropping from destroyed monuments and are now awarded to a player only for destroying the whole enemy base.