My advice: Just wait an hour or switch servers. After some time the cheater will get bored. Then respawn and enjoy the excitement of a new start. I have to say, that when I am full equipped I'm sometimes happy when a cheater kills me, so I can restart. 😉
I still fail to understand why cheaters exist in DayZ. They don't gain anything from it and they don't even see their victim suffering. They even pay for ruining the game for others, and for themselves as well! If you cheat yourself all the best equipment, what will you do? Then the game is over. Unbelievably stupid kiddies...