This is fairly old news but the first time I have seen it brought up on this forum, at least since I have been here. It was much discussed on the original Oak Island Forum.
Just google "phil erwin oak island" for more info on the event.
1971 235 ft down, with no evidence of treasure . says it all right there . The Pit was built for smoking fish . The scams continue making people money .
It has been used to scam investors out of money for over 100 years . It just keeps growing . First it was English Pirate Treasure , Now it is French
Knights Templar , soon it will be Space Alien Ancient Technology stored for the return invasion in the future .
People are making money off an empty pit , Films , Books , investors , The name fits well , " Money Pit " for it has lost people money
to the scammers who made money off of the investors and curious Tourist .
One recurring problem....people are using "10x" and "Money Pit" as the same thing...just as you have done..
10x is a bore hole Dan B had drilled in the early 70's to try to locate a side tunnel into the Money Pit....no treasure would be found there as that is not what it was for or expected to be...So going 235 feet down into it would not do anything about any treasure...proving it or disproving it.
By the way, he picked the spot for 10x by using divining rods that reportedly showed him there was a tunnel system under that spot....and one he hoped would lead to the Money Pit, tunnels were not found.
But I don't believe there is anything in the Money Pit either, which no one now knows where it was located, except as you have stated...lost investors cash..