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Home Discoveries 1001 Mysteries

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

by Sci
January 7, 2025
in 1001 Mysteries
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Visit 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 around the world.

Location of Oak Island

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

Oak Island located in Mahone Bay on the southern coast of Canada

Many historical records suggest that in the 1600s, treasure hunters spread tales of a vast fortune buried somewhere “east of Boston” by the infamous pirate Captain William Kidd. A member of Kidd’s crew revealed this information, but he died before he could disclose the exact location of the treasure.

Some believe it is a hidden treasure

Some believe it is a hidden treasure, while others assert that it holds the legendary Holy Grail. However, whenever someone attempts to dig for it, the pit seems to collapse mysteriously, as if to warn and protect the secrets lying beneath. The deeper they dig, the more challenges and dangers they face, sometimes with fatal consequences.

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 the site. The three were eager to uncover the pirate treasure, unaware that they had unwittingly sparked a never-ending story…

Three young men digging for treasure

Daniel began digging into the pit and was surprised to find wooden planks every 3 meters. Initially, the three of them were excited, thinking they had found a treasure chest, but soon realized it was merely a wooden beam attached to the sides of the well. After pulling the beam up, they saw that the well was still deep, so they continued their work, ultimately digging down to over 7.5 meters but discovering nothing.

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

Since the early 19th century, several companies have been established to carry out excavation work in search of treasure on the island. As more evidence of the buried “treasure” was uncovered, a myriad of hypotheses emerged.

Since the early 19th century, several companies have been established to excavate and search for treasure on the island.

Some believe that pirates from long ago chose this spot to bury their plundered riches, while others claim the pit holds jewelry lost during the French Revolution by the famous Queen Marie Antoinette.

Another hypothesis even claims that the father of British materialism, Francis Bacon, constructed this site to store documents proving that he authored Shakespeare’s plays.

Some believe that pirates from long ago chose this spot to bury their plundered riches

Many other major hypotheses about this underground mystery have been proposed, one of which is that the Ark of the Covenant is famously stored here.

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

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

The difficulty that both individuals and organizations face is the unstable, collapsing soil structure of the pit. Returning to Daniel and his friends’ search, after a day and night of digging and only finding wooden planks, they went to sleep. When they returned the next day, the pit had flooded and collapsed.

Later, many companies and organizations searching here encountered similar issues, as attempts to delve deeper into the pit became a costly and extremely dangerous journey.

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

The flooded chambers of the “Money Pit” seem to be connected to a much larger underground network. Each time people try to get closer, it mysteriously floods with seawater to the extent that many believe this place is cursed.

Nevertheless, other parts of the cave found also pose significant dangers. One cave discovered during the excavation was thought to be a booby trap. Another tunnel discovered served as a secret drainage route for 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 pit continue to attract hundreds of explorers? During a drilling expedition in the flooded tunnel in 1849, a company uncovered pieces of gold among the clay and wood. Moreover, one of the greatest discoveries in this cave is a collection of engravings on stone located about 27 meters underground.

These inscriptions translate to “Keep digging 12 meters below, you will find 2 million pounds” (about 70 billion VND at current exchange rates). Just this little evidence has been enough to motivate many generations to come here to dig in hopes of uncovering a fortune.

The mystery of the "Money Pit" known worldwide

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

The Mysterious Curse

The search for treasure on Oak Island is truly a perilous endeavor, as six people have died because of it so far. This has led some to wonder whether the treasure is guarded 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 pit believed to conceal the legendary vast gold. However, the boiler exploded, resulting in one man’s death.

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

These numerous deaths have led to a chilling rumor that seven people must die before the treasure can be found. However, the fear of death has not deterred treasure hunters from flocking to Oak Island to seek their fortune over the years.

Yet despite many years of searching, the treasure believed to contain tons of gold has yet to be revealed. And the mystery of Oak Island remains unsolved. Whether it is merely a natural pit, a cave filled with hidden gems, or the most ludicrous hoax in the world, this place will forever carry a significant mystery.

  • Treasure Legend: Yamashita’s Gold (Part 4)
  • Treasure Legend: The Beale Cipher (Part 3)
  • Treasure Legend: The Amber Room (Part 2)
  • Treasure Legend: Lake Toplitz (Part 1)
Tags: money pitOak Islandtreasure huntingtreasure legendtreasure on Oak Island

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