Loch ness of Iceland? Yes, it's Lagarfljótsormurinn

When I was young, living in Eiðar, in East of Iceland I was told about the local myth, 
an ancient story about a girl who lived in Egilsstaðir, her mother gave her a beautiful gold ring, she took the ring and placed it in a little box.
She asked her mom ,,how can I make the most of owning this ring?"
and her mother said ,,it was an old myth if you put a worm on gold, the gold will grow".
So that girl found a heather worm and put it in with the
ring and closed the box and waited for the gold to grow.
Before she knew the worm was starting to grow, not the gold, now
that startled the girl who was really scared so she ran with the box to the river
and threw the box in.
The worm only grew more and more and if anyone came near he came up and tried
to kill them.

There were also all kinds of heroic stories about people who tried to kill him, but this story, is it true or false? I think it's true, and in 2012 we saw the latest proof of his existence.

This video was taken by a farmer from Hrafnkelsstöðum, Hjörtur Kjerúlf.

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