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This log file lists every addition, deletion, and change to your Dropbox storage since the opening of the account.
Clicking on the link for a deleted file or folder lets you recover it from the trash. You can also view a file's Previous Versions and undo changes that were made in a recent edit and save.
Deleted files and past revisions are saved for 30 days. You can extend this backup by upgrading to a Dropbox Pro account and purchasing the Pack-Rat add-on.