Lost Pirate Ship from 1721 with $138M Worth of Treasure Finally Discovered
A legendary pirate raid has resurfaced—this time with hard evidence. Archaeologists say they’ve located the remains of the Nossa Senhora do Cabo, a Portuguese treasure ship hijacked in 1721 by notorious pirate Olivier “The Buzzard” Levasseur.
The ship had departed from Goa, India, carrying two of Portugal’s highest officials—the outgoing viceroy and the Archbishop of Goa—as well as over 200 enslaved people. Below deck was a massive cache of wealth: gold bars, silver coins, diamonds, emeralds, fine silks, religious icons, and chests of pearls.
But before it reached Lisbon, the ship was struck by a violent storm, leaving it vulnerable. On April 8, 1721, Levasseur and his pirate fleet ambushed the damaged vessel near Réunion Island. With most of the ship’s artillery thrown overboard to stay afloat, there was little resistance. The pirates seized the ship and rerouted it to Nosy Boraha, a pirate stronghold off the coast of Madagascar, where it was ultimately scuttled—along with its treasure.
Buried Riches and Untold Stories
Now, more than 300 years later, researchers Brandon Clifford and Mark Agostini from the Center for Historic Shipwreck Preservation say they’ve uncovered the wreck near Nosy Boraha. Using sonar scans, historical maps, and remote sensing, they identified a ballast pile and over 3,300 artifacts scattered across the seabed, many of which directly match 18th-century Portuguese shipping records.
Among the discoveries: 400 gemstones (including 110 diamonds and 250 emeralds), gold and silver bars, rare coins, porcelain shards, and religious carvings likely crafted in Goa. One ivory figurine of the Virgin Mary and a plaque reading “INRI” hint at the ship’s sacred cargo meant for European cathedrals.
The estimated value of the treasure? At least $138 million in today’s money.
The wreck was found in a quiet harbor near what was once a pirate haven. During the Golden Age of Piracy, Nosy Boraha served as a refuge for pirate crews and captured ships. Historical records suggest as many as ten ships were lost in the area.
A Glimpse Into a Complicated Past
While the discovery is thrilling, it also highlights deeper historical questions. The fate of the viceroy is known—he was ransomed and returned to Portugal—but the archbishop’s outcome remains a mystery. Even more tragically, the enslaved people onboard disappeared from the historical record entirely.
“The site has long been overlooked,” Agostini said. “Yet it holds clues not just to pirate lore, but to colonialism, slavery, and forgotten lives.”
As interest in the site grows, more excavations may follow. Beneath Madagascar’s sands and waters, centuries-old secrets are still waiting to be told.