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Home Discoveries 1001 Mysteries

Treasure Legend: “Black Hole” Money Pit (Part 5)

by Sci
January 7, 2025
in 1001 Mysteries
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Visiting the “Money Pit” – Home to One of the World’s Most Famous Hidden Treasures.

The famous treasure hunt on Oak Island has been ongoing for nearly 200 years, yet this mystery remains a challenging puzzle for countless researchers and explorers worldwide.

Location of Oak Island

Oak Island, located in Mahone Bay along the southern coast of Canada, is home to one of the world’s most famous mysteries. Known as the “Money Pit,” this treasure has attracted countless curious individuals hoping to strike it rich.

Oak Island in Mahone Bay, southern coast of Canada

Many documents suggest that in the 1600s, treasure hunters passed down tales of a massive treasure buried by the infamous pirate captain William Kidd somewhere “east of Boston.” A member of Kidd’s crew revealed this information, but before he could disclose the exact location, he mysteriously vanished.

Some believe it is a buried treasure

Some believe it is a buried treasure, while others assert that this site holds the legendary Holy Grail. However, each time someone attempts to dig for it, the pit mysteriously collapses as if to warn and protect the secret hidden below. The deeper they dig, the more difficulties and dangers they encounter, sometimes even leading to fatalities.

After discovering the mysterious land with deep holes on the island, a young man named Daniel McGinnis, driven by curiosity, invited two friends to explore this site. The three were eager to uncover the pirate treasure, unaware that they had unwittingly ignited a never-ending story…

Three young men digging for treasure

Daniel began to dig into the pit himself and was quite surprised to find wooden planks every 3 meters. Initially, the three were excited, thinking they had found a treasure chest, but they quickly realized it was merely a wooden beam attached to the walls of a well. After pulling the beam up, they noticed the well was still deep, so they continued their work, eventually digging down over 7.5 meters without finding anything.

Finally, the three young men had to give up, filling in the well and leaving, though they couldn’t shake the feeling that no one would dig such a deep hole without hiding something valuable beneath it.

Since the early 19th century, many companies have been established to conduct excavation work in search of treasure on the island. With the discovery of increasing evidence of a “buried treasure” beneath the earth, a multitude of different theories have emerged.

Since the early 19th century, many companies have been established to conduct excavation work in search of treasure on the island.

Some believe that pirates from ancient times chose this location to bury their stolen riches, while others claim that the deep pit holds jewelry lost after the French Revolution by the famous Queen Marie Antoinette.

Another theory even posits that the father of British materialism, Francis Bacon, built this site and stored documents here proving he was the true author of Shakespeare’s plays.

Some believe that pirates from ancient times chose this location to bury their stolen riches

Numerous other significant theories regarding the underground mystery have been proposed, one of which is that the Ark of the Covenant is also hidden here.

Despite the plethora of theories and predictions put forth, explorers have been unable to verify any of them, as no one has succeeded in reaching the bottom of the pit.

The mystery of the famous "Money Pit"
Many theories about this mysterious land have been proposed.

The difficulty faced by all, whether individuals or organizations, is the unstable, collapsing soil structure of the pit. Recalling Daniel’s search with his friends, after a night of digging and only finding wooden planks, they went to sleep. Upon returning the next day, the three young men found the pit had flooded and collapsed.

Subsequently, many companies and organizations searching here encountered similar issues, as attempts to delve deeper into the pit became an expensive and exceedingly dangerous journey.

The flooded chambers of this 'Money Pit' seem to be connected to a much larger network running underground.

The flooded chambers of the “Money Pit” appear to be connected to a much larger network running underground. Each time someone attempts to approach, it mysteriously floods with seawater to such an extent that many believe this place is cursed.

However, other parts of the cave discovered also carry significant dangers. One cave found during the excavation is believed to be a booby trap. Another tunnel discovered is a secret water drainage path of this cave system.

One of the greatest discoveries in this cave is a collection of engravings on stone located about 27 meters underground.

So why does this mysterious deep hole continue to attract hundreds of explorers searching for treasure? During a drilling expedition in the flooded tunnel in 1849, a company discovered pieces of gold among the clay and wood. Furthermore, one of the greatest discoveries in this cave is a collection of engravings on stone located about 27 meters underground.

These symbols have been translated to say “Continue digging 12 meters below, and you will find 2 million pounds” (approximately 70 billion VND at the current exchange rate). Just this little evidence has been enough to inspire many generations to come here to dig with the hope of finding a fortune.

The mystery of the world-famous "Money Pit"

After countless efforts, the mystery of Oak Island’s deep hole remains unsolved to this day. In various ways, the expeditions have become a part of Oak Island’s history. With the failure of organizations trying to hunt for treasures, in 2010 the government passed the Oak Island Act, prohibiting all treasure hunting activities on the island from then on.

The Mysterious Curse

Searching for treasure on Oak Island is truly a risky endeavor, as six people have died because of it so far. This has led some to wonder if the treasure is protected by a curse.

The first tragedy and death occurred in 1861 when treasure hunters brought an iron pump and steam engine to the island. They hoped to pump water out of the hole believed to contain the legendary vast amounts of gold. However, the boiler exploded, resulting in one man’s death.

Subsequently, five more people lost their lives while searching for treasure. The most recent death occurred in 1965 when four men died from hydrogen sulfide fumes while attempting to access the treasure on Oak Island.

This series of deaths has led to a chilling rumor that seven people must die before the treasure is found. However, the fear of death has not deterred treasure hunters from flocking to Oak Island in search of fortune over the years.

Yet despite many years of searching, the treasure said to contain tons of gold has yet to reveal itself. And the mystery of Oak Island remains unsolved. Whether it is merely a natural hole, a cave filled with hidden jewels, or the craziest hoax in the world, this place will forever carry a great mystery.

  • Treasure Legends: Yamashita’s Gold (Part 4)
  • Treasure Legends: The Beale Ciphers (Part 3)
  • Treasure Legends: The Amber Room (Part 2)
  • Treasure Legends: Lake Toplitz (Part 1)

Tags: money pitOak Islandtreasure huntingtreasure legendtreasure on Oak Island

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