How large is it? Does it go into a rock or is it more on the surface? It looks like it could be a flower anemone. If so, they have a pretty hefty sting but don't tend to snatch fish. We got a flower anemone with our live rock shipment it's about 3" in diameter. Shrimp and crabs crawl across it's face but it doesn't close up. The serpent star we have touched the outer fringes and you could just hear him shout OUCH! We spot feed it when we feed the rest of the fish and it's doing just fine. Maybe that's what you have?