Jesse Kane, David Kane, and their band of pirates hijacked the submarine but they were defeated by Aquaman. The sailors were evacuated as a drowning Jesse Kane used an explosive to sink the submarine.
"You killed innocent people - you ask the sea for mercy."
The attack on the Stalnoivolk had two major outcomes. First, while heavily damaged after the attack went wrong, David Kane still managed to salvage the submarine and use it to launch a fake attack on Atlantean dignitaries meeting to discuss a potential war at the ancient Council of Kings, as Orm had hired him to do. Orm’s plan worked; in light of this “surface dweller” attack, King Nereus thus agreed to join the King in his war against the surface.
Secondly, the attack marked the first encounter between Arthur Curry and David Kane, which resulted in the former leaving the latter’s father to die. As a result of this, David became motivated to seek revenge on Arthur, which led to his involvement in the Attack on Sicily later in the conflict, and to taking up the title “Black Manta”.
Another minor result of the attack was increased publicity for "the Aquaman" in the surface world.