The Jackal and Grizzly kidnap Peter to uncover Spider-Man’s civilian identity. Rigged with a tracking device set to explode upon its removal, Peter wonders if he can ever again become Spider-Man. Plus, J. Jonah Jameson reveals why Grizzly has beef with the Bugle!
At the end of the previous issue, Peter Parker was captured by the Jackal and the Grizzly and knocked out. Upon waking up, Peter is taken by the Grizzly to a separate room, where the Jackal comments that his lab is portable. The Jackal then orders the Grizzly to knock out Peter, since they need him unconscious for when they operate on him. As Grizzly knocks out Peter, the Jackal says that Peter will soon be theirs to control after the operation. Whilst Peter is unconscious, his mind dreams of how he had been looking at apartments with Liz Allen, before going up to the Daily Bugle to tell them about what he'd found. However, the Grizzly came into the room, and although Peter changed to Spider-Man, he had to let himself be beaten to make sure no one else was hurt. After Grizzly left, Spider-Man changed back to Peter Parker and followed him, only to be knocked out from behind.
Peter then wakes up, and finds himself in the lobby of the Daily Bugle, with Ned Leeds and Betty Brant. Peter, Ned, and Betty all go off to have a coffee, so that Peter can recover, but Peter notices something wrong with his arm. He goes into a bathroom, to find a strange harness on his arm. A voice recording tells Peter that if he tries to do anything to remove it, the harness will vibrate his arm to nothingness. The harness also has a tracer, so that the Jackal can find out Spider-Man's identity from Peter.
After heading to his new apartment with Flash Thompson and meeting Gloria Grant, Peter heads to Empire State University after it closes. Peter decides to remove the harness, and hope that the Jackal was only bluffing. Fortunately for Peter, the Jackal was bluffing, and he is able to remove the harness safely. Peter then changes to Spider-Man, and heads for the Daily Bugle to question J. Jonah Jameson. Spider-Man asks Jonah why the Grizzly has a grudge against him, and Jonah replies that the Grizzly used to be a wrestler, but his methods were incredibly violent, and he (Jonah) managed to prevent the Grizzly from being allowed to fight with editorials, which led to the Grizzly's grudge.
Spider-Man then leaves, and after checking the apartment where he was knocked out for a sign of the Jackal, heads for a gym. At the gym, he finds out where the Grizzly used to fight, and heads there to find Grizzly fighting the men there, who didn't cover for him when his fighting was investigated. Spider-Man manages to take Grizzly's suit apart with webbing, having correctly guessed that the Jackal built some sort of exoskeleton to enhance Grizzly's strength. With the suit gone, Spider-Man is able to tie Grizzly up with webbing, and stop him for good.
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