The Inferno is One-Eyed Willy's ship and Willy sealed the ship and its crew within a cavern to escape the British armada that had been sent after him. Mikey, Chunk, Mouth, Brand, Stef, Andy and Data, also known as The Goonies, went to find his treasure as they believed they had the map that would lead them to The Inferno.
Chester Copperpot was a reclusive scavenger from Astoria who went missing in the 1930s while looking for One-Eyed Willy's treasure. His disappearance was noted in a local newspaper, a copy of which was stored in the Walsh's attic. When Chunk reads the story aloud Mikey is inspired to lead the same treasure hunt.
Willy was known for the creation and use of ingenius traps that could take down even the most experienced treasure hunters. Copperpot succumbed to one such trap only to be found by The Goonies decades later.
Once The Goonies escape capture from the criminal Fratelli gang (with some help from Sloth, the abused and neglected Fratelli brother) and manage to get around several booby traps, they finally found The Inferno, its deceased crew and all of the plundered treasure.
After another encounter with the Fratelli gang, The Inferno is set free from the cave it has been trapped in for hundreds of years and One Eyed Willy and his crew sail adrift in the Pacific Ocean.