The Nossa Senhora do Cabo (1721) ship from Portugal sank off Nosy Boraha (Île Sainte-Marie) in Madagascar after being captured by pirate leader Olivier Levasseur who operated under the name “La Buse” near Réunion Island. The ship sank after pirates led by Olivier Levasseur captured it near Réunion Island. The recovered treasure exceeds $138 million in value because it contains gold and silver bars with diamonds and emeralds and religious statuettes and coins and exotic artifacts which number more than 3,300 items to validate historical records of its original cargo. The Center for Historic Shipwreck Preservation located the shipwreck through 16 years of research which revealed an exceptional collection of 18th-century maritime artifacts and pirate treasures.
Reference: A Legendary Ship Vanished With $138 Million in Treasure. Two Explorers Say They Found It, 16 Jul 2025. https://www.popularmechanics.com/science/archaeology/a65369799/1721-pirate-treasure/