It was thought beavers were on the loose after trees started to disappear at a fishery, with the trunks gnawed in two, and then a lodge later emerged.
Staff from Edinburgh Zoo have now captured what appears to be a male European beaver.
Releasing beavers into the wild is illegal but it is not yet known if there are any more in the area.
Tayside Police are investigating.
The animal is being kept temporarily at the Highland Wildlife Park in Kingussie.