The Cursed Sails event is over and now begins the cursed crews! Patch 1.2.4 dropped early this morning with a new event, some game play changes, and other fixes.
You can now find cursed cannonballs the skeleton ships used against you. They affect both skeletons and other players to add a new level of complexity to PvP.
You can now fly the Reapers Mark flag. When used, this flag will make your ship location visible to all others on the server. Be prepared for the onslaught before you fly this flag!
Barrels have been changed to hold several different items at the same time (used to be one item per barrel).
The Bilge Rats are now offering new Wailing Barnacle Weapons, Titles, and Commendations.
The skeleton ships will now be marked in the sky by a skeleton ship cloud, similar to how the skeleton forts are marked.
Banana, Cannonball, and wood crates will now wash up more frequently on beaches, have increased in value when sold, and more likely to be a part of Voyages discovered in a Message in a bottle.
The Kraken is back!
You can read more about it from the official Sea of Thieves patch notes.