The Kracken (otherwise known as "THE. G-D. KRACKEN.") is a "giant monster" in the now-defunct City of Heroes MMO.
The Kracken is part of the Hydra creatures that have taken over the area. It was deemed a "giant monster" by local officials because of its extreme durability and strength. It has been known to take down whole hero groups in a matter of seconds.
Heroes in that area are advised to never try to take it on alone.
(Check out its Paragon Wiki entry for more information.)