Many of us thought that we had heard the last of it when an emaciated fox, suspected of being the beast, was caught last year and put to sleep by the RSPCA.
But more recent sightings the have fuelled speculation that the creature is alive and well.
The beast, which was originally spotted on Green Drive in Lytham, has now been seen in St Annes by Peter and Elizabeth Robinson, who believe they have solved the mystery.
And the couple, who live on Fairhaven Road, think that it is yet another unfed fox that is responsible for the rumours.
Elizabeth said: "It's a red fox that lives round our way. It's unkempt and it's obviously not very well fed
"I couldn't believe it when I saw it – we've never seen a red fox before and we've been here 24 years."
The animal was first seen by the couple three weeks ago and they spotted it again last week attacking a hedgehog in their backgarden.
Elizabeth managed to take a photograph of the animal from afar before it ran off.
"It's not the best picture but it's definitely a fox," she said."One or two of the neighbours have seen it and our daughter saw it on Lightburne Avenue a few weeks ago."
The couple believe that the animal may be living in a derelict house on neighbouring Links Road.