If you use this method, be prepared to have other players try to steal your kill. You will still get hit occasionally (most likely) so bring several bandages. Note that you will still need to move 'up and down', similar to how you would kill a dragon. Once the kraken is in the river, it cannot escape as easily. Keep in mind that you can still get hit if this happens, you should immediately move to land. Because of this, you can lead it to the river with relatively low effort. When wearing a Diving Mask, the kraken moves at the same speed as you do. Fortunately, there is no quest to kill a kraken, so you have plenty of time to prepare. Because of this, combined with its high health, the kraken is arguably the most difficult mob, beating even the Lava Dragon. The kraken is impossible to outswim, and it can easily kill you if you are holding a weapon. The kraken is able to climb onto bridges. It drops a kind of leather ( kraken skin) used for the diving suit and the super hammer. It was added in the 'Vamos a la Playa' update.
Kraken is a boss mob that currently spawns in the ocean biome.