"The Ring" was a Nazi spy who operated out of an American Bund during the 1940s. By January 1943 he had an operation set up in which he sent out cobra shaped rings to members of government. When the wearer of the ring made a fist, the tendons in their ring finger activated a spring that caused the cobra head to strike their hand injecting them with a lethal poison, killing them instantly. He ran his operation out of a Curo shop owned by a man named Hugo who was forced to aid him and his men. The Ring was protected by his Mongolian body guard Toto. His first victim was Senator Ralph during a Congressional hearing on the defense of Alaska.
Their next target was General Lang, who was killed by the rings poison in his own home. As fate would have it Private Steve Rogers was assigned to clean Lang's home at that moment and came across the dead body. Recognizing the ring as the same kind that was worn by Senator Ralph, Steve attempted to remove to so he could investigate it's connection when he was spotted by soldiers and accused of General Lang's death. Steve then fled capture and would have to lay low until an appropriate time for Captain America to get involved so as to avoid people connecting Steve Rogers to Captain America. He turned the ring over to his sidekick Bucky to investigate. Bucky's investigation led him to the Curo shop owned by Hugo. When Hugo attempted to warn Bucky of the spies operating out of his business, the Ring ordered the boy captured and Hugo eliminated. Toto attempted to kill Hugo and Bucky was taken with them to their hideout on Shoal Island. When Captain America traced Bucky's trail, he found the dying Hugo who told him where the Ring took Bucky.
On Shoal Island, the Ring explained the next part of his plan to Bucky: To send the rings to all members of the United States government in order to eliminate them all. Captain America came to Bucky's rescue, but he too was briefly captured. When Cap and Bucky broke free, they then chased the Ring and Toto back to the mainland. While Captain America battled with Toto, Bucky chased the Ring back to his Bund's secret headquarters. When Bucky arrived there, the snake ring (which he had all along) fell out of his pocket so he put it on his finger to keep from losing it. At that same time, Cap defeated Toto and learned how the rings killed people. Fearing for Bucky's life, Cap rushed to the hideout just as Bucky was once more captured trying to pose as a Nazi agent. Warning Bucky of the rings poison, Bucky then tossed off the ring, which landed in a nearby grate.
The two heroes then rounded up all the Bundsmen, and when the Ring attempted to attack Captain America, the hero knocked the spy for a loop. Grabbing hold of the grate, the Ring's finger slipped through the ring and when he attempted to shoot Captain America and Bucky with a machine gun he triggered the rings poison release, killing him instantly.