It was confirmed by the Australian Space Agency said on social media that after an investigation officials "concluded the object located on a beach near Jurien Bay in Western Australia is most likely debris from an expended third-stage of a Polar Satellite Launch Vehicle.

The debris is linked to a launch vehicle is owned and operated by the Indian Space Research Organization, the agency explained.

The object is now in storage, the agency said, adding that they are working with the Indian Space Research Organization in choosing what to do next.

Officials added that they would take into consideration the United Nations 1968 agreement that requires space debris to be returned to its original country.

The mystery debris was initially found near Green Head, a coastal town that lies about 155 miles (250 kilometers) north of Perth, Australia.

The large, barnacle-encrusted device is said to be about the size of a small car, measuring about 6. 6 feet in height (2 meters) with cables attached to the top.

Not long after the object drew the attention of dozens of residents from the area - some of whom even snapped photos of the mystery find, local police descended on the scene and cordoned off the area.

The object garnered much attention online, with some netizens earlier speculating whether the debris was connected to the disappearance of the Malaysian Airline flight MH370, which was lost over the Indian Ocean in 2014. Some netizens even assumed it was a UFO.

Last August, a similar incident occurred when a sheep farmer in New South Wales, Australia, found a charred piece of space debris belonging to one of Elon Musk’s SpaceX missions in one of his paddocks.