Step 1: Understanding the question.
The question is asking for the statement that is not true about octopuses. Let's analyze each option.
Step 2: Analyzing the options.
(A) They can regrow their lost arms: This is true. Octopuses can regenerate lost arms over time.
(B) They usually have a lifespan of around 1-5 years: This is true. Most octopuses have a relatively short lifespan of 1-5 years.
(C) They can eject a cloud of ink which creates a smoke-screen effect, to escape predators: This is true. Octopuses use ink as a defense mechanism.
(D) They have three hearts: This is true. Octopuses have three hearts, two to pump blood to the gills and one to pump it to the rest of the body.
(E) Their blood emits a radium-like glow under moonlight: This is incorrect. Octopus blood contains hemocyanin, which is blue, but it does not emit a glow under moonlight.
Step 3: Conclusion.
The correct answer is (E) Their blood emits a radium-like glow under moonlight, as this is not true about octopuses.