I don't know. I never wanted to get close enough to find out. My impression is they looked sort of territorial so if you stayed away from that hole you were fine. Don't know if it's the same toadfish I read that they're also known as oysterfish because they hang out around oyster beds) I knew as a kid, but I read this:
http://www.abc.net.au/news/newsitems/s475797.htm