The Museum of UnNatural History has a page about the Kraken, of course,
a pleasant romp through the history of the mythological creature, but unfortunately it does its part to perpetrate a common misunderstanding about the giant squid: that this poor animal is actually capable of taking on a whale.
Though giant squids are considerably less then a mile and a half across, some are thought to be large enough to wrestle with a whale. On at least three occasions in the 1930's they reportedly attacked a ship. While the squids got the worst of these encounters when they slid into the ship's propellers, the fact that they attacked at all shows that it is possible for these creatures to mistake a vessel for a whale.