Riddle: "the chest is close at the shark statue on the south outer ring, but you're not done, dig 6 paces East-by-South East grab it and run"

Moment at 0:05 in Shark Bait Cove Shark statue Sea of Thieves Gold Hoarders by Tech Jmdog.

Shark Bait Cove Shark statue Sea of Thieves Gold Hoarders

Saved by N64Mastertut.