Its name is derived from an event that took place around 1775; the Turks hid boats in it and tried to invade the area. But they suffered a great defeat (olethros) at the hands of the local population and thus, the surrounding area was named Golethros, which means 'land of defeat'. Over that cave was a tall rock, the rock of Golethros. It was often visited by boat by Nikos Kazantzakis, Aggelos Sikelianos and Marika Kotopouli; on moonlit nights, they climbed on it and delivered recitations, because a magnificent echo is created inside the cave.