Probably a hoax. Would be the complete opposite direction they're saying it was going now. Not that I put any stock in their flip flopping story of where the plane was going.
http://www.cnn.com/2014/03/11/world/asia/malaysia-airlines-plane/index.html?sr=fb031114malaysia2p
Peter Goelz, former managing director of the National Transportation Safety Board, thinks all this information -- if correct -- ominously suggests that someone purposefully cut off the transponder...
I don't think it will. They were talking about how shallow it is where 370 supposedly went missing, compared to how deep it was in the Atlantic when it took them 2 years to find that plane.