Lost pirate ship from 1721 with $138M worth of treasure finally discovered

A long-lost pirate ship packed with treasure worth a staggering $138 million has been discovered off the coast of Madagascar, over 300 years after it vanished.

The ship, called Nossa Senhora do Cabo, which translates to ‘Our Lady of the Cape,’ was originally a Portuguese vessel that left India in 1721 carrying high-ranking officials, 200 slaves, and an enormous trove of gold, silver, and gems. But before it could reach its destination, it was ambushed by one of the most notorious pirates in history: Olivier ‘The Buzzard’ Levasseur.

Levasseur and his fleet struck near Réunion Island in the Indian Ocean, taking full advantage of the ship, which had been damaged from a storm earlier. The pirates seized the vessel with little resistance and redirected it to what’s now known as Nosy Boraha, then called Île Sainte-Marie off the east coast of Madagascar.

There, the pirates scuttled the ship and left its treasure lost to time. Until now.

Lost pirate ship with millions of loot finally located

According to Popular Mechanics, two American researchers, Brandon Clifford and Mark Agostini from the Centre for Historic Shipwreck Preservation, have uncovered more than 3,000 artifacts from the site, wth many matching records describing Levasseur’s legendary haul.

The loot reportedly includes over 400 gemstones, 110 diamonds and 250 emeralds, gold and silver bars, rare coins, chests of pearls, and fine silks and textiles. The researchers say the haul would be worth at least $138M in today’s money.

“This is an eye-watering treasure, even by pirate standards,” the researchers said.

Historical records cited in Denis Piat’s 2014 book Pirates & Privateers in Mauritius describe the treasure in vivid detail, including blocks of gold and chests crammed full of pearls.

While the find hasn’t been independently confirmed, Clifford says their identification is backed by “multiple lines of evidence” including the ship’s build, location, and a direct match to 18th-century Portuguese records.

Agostini emphasized that Madagascar remains a vastly underexplored hotspot for maritime archaeology. “Ideally, future fieldwork will lead to more analysis of the many wrecks there,” he said.

If confirmed, it could be one of the richest pirate discoveries in history, and a major win for researchers chasing legends of the high seas.