Yep, it has been confirmed after some research and posting the photos in the crypto forums that the butterfly man is a hoax. Here is a quote from one of the crypto members.
"It's suppose to be a Mummified Fairy, but its already proven a hoax. The body is old and decrepit, but the hair still looks new. The way the wings are attached to the back would not work for flight. It's a good Hoax attempt, though. "
So you see, no cryptids has been caught and verified yet.
Some updates, recently few Japanese managed to film a giant squid in action with a waterproof videocam. Think they used a submarine or something. It was the first video ever released on LIVING giant sqiuds. The squid got stuck with one of the traps on the submarine and it finally got away breaking one of its tentacles.
Lots of photos of giant squids are available on the net if you bother to google it.