Spooked, began to bury first of loot (8)

I believe the answer is:

startled

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'spooked began to bury' is the definition.
I can't judge whether this defines the answer.

'first of loot' is the wordplay.
'first' becomes 'start' ('start' can be a synonym of 'first').
'of loot' becomes 'led' (I can't justify this - if you can you should give a lot more credence to this answer).
'start'+'led'='STARTLED'

Can you help me to learn more?

(Other definitions for startled that I've seen before include "Caused sudden alarm" , "Affrighted" , "Surprised with fright" , "Shocked, alarmed" , "Suddenly alarmed" .)

I've seen this clue in The Times.

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