The Atlantis was a North Lines vessel which foundered on the rocks in Cobblewave Cove during a gale. The remains were left as a memorial to it's crew and a warning to other sailors. Local legend states that it is haunted and the wails of dying mariners can be heard coming from the ruined ship.
The Footprints spy ring used the Atlantis to hide kidnapped Huellan refugees. They believed that the haunting legend would both ward off unwanted visitors and provide an explanation for the noises of the captives if they were to be heard.