The Hagish (Latin family name "myxini") is an eel-like demonic creature of the depths. It can fire up to 20 litres of toxic slime at prey, which it then eats alive using its sharp toothed mouth.
"This really is a macabre creature" said American researcher Dr. Ted Jackson. "It weakens victims by trapping them in toxic slime and denying oxygen. Then it starts to chew into soft body tissue seeking out the liver and other soft, blood rich internal organs".
Hagfish were thought to only live in temperate zones but recent research has found thermal vents beneath the loch.
Eels seem to be an exception, though, leading scientists to speculate that Hagfish may confuse the types of eel found within Loch Ness with themselves.
"It's also possible that Hagfish may ignore Nessie because they confuse the dinosaur-sized beast with a giant eel. Or maybe her hide's just too tough for their teeth".
Dr. Jackson now hopes to find a fossilized Hagfish. The creatures have been around for some 300 million years and the rich sedimentary layer beneath Loch Ness may yield up some amazing discoveries.
At the moment it is all just speculation, but The Loch Ness Inquisitor understands that people are unlikely to be at risk from these monsters. "These beasts are swimming well below the surface. It's cold and dark down there - no swimmer would be likely to come across a Hagfish".
The British Fish Recycling Research Association was unavailable for comment at time of going to press.