 History shows that reports of large monsters came not only in lakes such as Loch Ness, but also in open waters. For years, the giant squid has been known as the dreaded kraken, and given the size of the oceans, it would not be surprising if many large species are still to be discovered. In the area of the sea where the attack occurred, sea monsters are found everywhere from the north coast of Wales to Liverpool Bay. What the German captain said may well be true.