The Riddler smuggles a revolutionary new ring of Universal Wax Solvent, a substance that can eat through anything, from the French Cognac District into the U.S. of A. inside a wax statue of Batman intended for display at Madame Soleil's Wax Museum. (Since the U.S. Government has forbidden its importation for fear that it might fall into the wrong hands, Riddler had to devise something to fool Customs!) In place of the wax Batman statue is a wax replica of The Conundrum King himself, which at its unveiling sprays the audience with a gun filled with red paint while a tape recorder blares out two riddles. In his hideout at The Kandle Lite Kandle Factory, Riddler melts the wax-figure of Batman, containing the wax solvent, into a vatful of boiling wax, as Moth, his new female assistant, looks on.
Meanwhile, Riddler's puzzles lure Batman and Robin to The Gotham City Public Library, where Riddler and his two henchmen, Tallow and Matches, has broken into the rare book vault with his wax solvent to swipe a rare book about the fabled lost treasure of the Incas! When The Dynamic Duo arrive at the factory, they are unwittingly anticipated by The Riddler and company, who give battle; after which, he uses a can of his own Dr. Riddler's Instant Forever-Stick Invisible Wax Emulsion to glue The Duo's feet to the floor, and he and his cronies beat a hasty retreat. The Caped Crusader and The Boy Wonder track their foes back to The Wax Museum, where they are immediately overpowered and taken to Riddler's hideout. They are suspended by rope over a huge vat of boiling wax, which Riddler plans to use to convert them into giant human candles!