This lady is just plain paranoid. Introduced in Tales of Suspense #97 (1967) by Stan Lee and Gene Colan, This lady is the daughter of Count Nefaria, whose mother died during childbirth. Wanting a son, Nefaria sent her away to be adopted by the Frost family, where she was named Whitney. She would learn of her real father and began working for him as part of the Maggia with the name Big M. She would then tried and used Jasper Silwell to gain info on Stark Industries but would fall in love with him. During an accident, her face was horribly scared. Working with Mordecai Midas, she was given a golden mask and took the name Madame Masque.

Midas kidnapped Stark and had Masque train him to try and take over Stark Industries. The plan failed but Masque would develop feelings for Stark. The two would become a couple and go on adventures together. However Masque still had feeling for Sitwell and the pair broke up with Stark getting engaged to another woman. She would return to Sitwell but after he was injured in a fight with Spymaster, they would break up. She would later be sent by Midas to infiltrate Stark Industries as Krissy Longfellow, regain her looks. She would later be found out after her father contacted her. When he was seemingly killed, she would leave Stark and go back to her criminal ways.

Becoming increasingly paranoid, she created a bunker and had many clones of her created. These clones would carry out her daily criminal tasks but one would go to the Avengers to seek aid. Masque sent a robot to receive this clone. Her father found out about this and used Wonder man and Atlas to gain their powers and would battle the Avengers to defend her. Later she would be hired by Hood to gather all the New York superpowered villains in order to make them a single gang. She would become the Hood’s bodyguard, second-in-command and lover. During the Dark Reign, she was sent by Osborn to hunt down Stark. She found him in Russia and kidnapped Pepper to drag him out. After Stark escaped, she was beaten by Pepper and shoved into a Crimson Dynamo Armor. She was later found by HAMMER agents after Pepper pretended to be Masque to call off the hunt for Stark.

After escaping after Osborn’s defeat in Siege, she was later arrested after she went to her father for help. She would later escape and had her face restored by the Reality Gem by Hood. After a battle with Hawkeye, she would become a member of the criminal owned country of Bagalia’s Shadow Council. She would later started gathering magical items to empower herself but was hunted down by Cyber Ninja and Iron Man. She was sent to Dr. Strange to remove the magic she gained but would escape and set up a Black Market for Magic Items. This was stopped by Dr. Strange but would flee to New York where she tried to take over the criminal underworld that was left behind after Fisk became mayor. She was defeated by Spider-man.

Madame Masque is probably up next to Stane and Hammer as Iron Man second most important villain, possibly even surpassing them. (First is obviously Mandarin). So it comes as a surprise that she has only receive one figure so far as a swap figure with Madame Hydra (Viper) as part of the Arnim Zola wave.