'Monsters' like this are never short on second hand accounts of their existence, but always fail to produce real evidence. This isn't a super natural, or a series of amazing coincidences, it happens because they are just folk tales and collective delusions. There are hundreds of creatures just like this one who are never found. Why? Because they do not exist.
Penn and Teller made a great episode of their show "Bullshit" about the ridiculousness of cryptozoologists(that is what they call themselves.)
If you wanted to find new species of animal you can catalog ants or try exploring the depths of the ocean (we know almost nothing about marine life after a certain depth).