This list of mythical creatures that begin with this letter and I am constantly gathering information from each continent, and is continually being updated.
Kraken (Scandinavian)
The kraken is a legendary sea monster of enormous size said to appear in the sea between Norway and Iceland. The legend of the Kraken may have originated from sightings of giant squid, which may grow to 12–15 m (40–50 feet) in length.
However, the first description of the creature is usually credited to the Norwegian bishop Pontoppidan (1753). Pontoppidan was the first to describe the kraken as an octopus (polypus) of tremendous size, and wrote that it had a reputation for pulling down ships.