The Kraken, also called the Krabben and Skykraken, has been described in Nordic folklore as a nightmarishly huge cephalopod creature that touted its penchant for the destruction of large ships and lustful appetite for human flesh. Folklore claimed that the monster attacked by encircling passing ships--and sometimes entire fleets--with its enormous body, and then dragged them under the waves. This action created a whirlpool, so that anything else that might have survived the initial attack would also be sucked down into the water.
A continued belief in the Kraken and curiosity about other legendary sea creatures demonstrates just how little we actually know about our world's oceans. It's not an exaggeration to say that we don't know very much at all about the wide expanse and enormous depths of the sea, as well as the creatures that live in it. Modern estimates suggest that more than 80% of the oceans have never been mapped or explored. Until we learn more about our own oceans, the existence of a massive Kraken-like squid might still be a very real possibility.