Yes it's really spelled that way. One day I was in the supermarket and I picked up some "seafood" and took a look at the ingrediants. One of them was "Krab."
it turns out that "Krab" is real and mostly made up of "junk" fish.
Wikipedia describes it this way
"Krab" is mostly whitefish that has been pulverised and shaped to look like crab.
At any rate here is a story about a sleazy, shifty-eye stalked crab made of "krab."
Here is a link to the story