A long-lost pirate ship packed with treasure worth a staggering $138 million has been discovered off the coast of Madagascar.

Between the treasure value and the ransom money, the haul would have been an "eye-watering treasure, even by pirate standards.

Treasure hunter Eric Jensen holds the bamboo bottle he found on Dec. 23 in Falmouth, in a hole in a rock. The Cape-wide treasure hunt was sponsored by the Whydah Pirate Museum in West Yarmouth and ...