Initially thought to be the sadistic hatchet murderer, the true Randall Spector was neither responsible for the deaths of so many women, nor was he the same man impaled on a tree while battling the costumed vigilante Moon Knight (Marc Spector). Instead it was an impostor molded through extensive plastic surgery and implanted with Randall's memories while the real Randall plotted secretly to rid the world of his brother. Randall's partner was a former employee of the Company, Sandahl Swarn, who took the name Nepthys after the Egyptian goddess, allying herself with a cult called the Knights of the Moon. Together they sought to replace Moon Knight as the Avatar of Khonshu, and to that end Nepthys used chemical treatments to empower Randall with indestructibility.
Randall drew Moon Knight out in the open by donning the mask of the Hatchet-Killer and attacking Marc's girlfriend, Marlene, after injuring his comrade, Frenchie. However, Moon Knight was not the only one searching for Randall since his allies had stolen A.I.M. weapons, and the Punisher was determined to stop the cultists from using them. Both heroes found the Knights of the Moon's base simultaneously, disagreed how they should proceed and fought with each other long enough for their foes to escape. Deciding to work together Moon Knight and Punisher tracked their enemies to another location, but Randall had already become more than a match for either of them. Punisher was left to die in a flood of water while Moon Knight was taken to the place he thought he saw his brother die to learn the truth behind Randall's motives.
Years earlier Randall was part of a rebel camp near the Egyptian border when his brother and Bushman rode through, slaughtering everyone present, and Randall swore Marc knew he was shot but still left him there to die. He struggled to make it to the Tomb of Seti where he saw Marc die and be reborn as Moon Knight. Randall begged Khonshu for power too, but his pleas were ignored. From that day forward his jealousy grew to monstrous proportions, and he vowed to one day replace his brother as Shadowknight, the new avatar of Khonshu. Moon Knight proved to be the better fighter and defeated Shadowknight, but as Nepthys returned with the Knights of the Moon and the Punisher in pursuit, Shadowknight escaped during the confusion and descended into madness.
The treatments he was subjected to destroyed his mind, and Randall became the second Hatchet-Killer. Moon Knight and Punisher tracked him for weeks before coming face-to-face in the hospital where Marlene and Frenchie were recovering, and that's when they noticed the second side effect of the drugs. Although Randall's skin was invulnerable to harm, it was cracking all over his body. Moon Knight alleged Randall's insides were vulnerable to attack, but Randall threw Frenchie out of a window to prevent his brother from attacking. As Moon Knight raced to save his friend's life, Punisher shot Randall multiple times, eventually putting him down when enough bullets found their way through the cracks in his skin and damaged his internal organs. Randall fell out of a window, his body partially shattered when it hit the floor and was later pronounced dead by one of the resident doctors.
Much time had gone by before another claiming to be Randall Spector resurfaced, again looking to replace Moon Knight as Khonshu's avatar, this time at the behest of the Profile who was hired by a Hand possessed Daredevil. Apparently Randall lost his previous abilities and regained his senses, had a family, enlisted in the military once more and was exposed to uranium radiation, developing a new power. In a freak accident on base Randall injured several people earning him a dishonorable discharge, his wife left him, and he was prepared to take his own life until the Profile gave him a new mission: obtain the Sapphire Crescent. Randall became Shadowknight once more, challenging Moon Knight by publicly murdering several innocents and attacking a pregnant Marlene, causing her to lose her unborn child. Randall got what he wanted and defeated Moon Knight but left him alive so he could lead him to the Sapphire Crescent. Once in Moon Knight's possession Randall tried to steal it from him and faced him in final combat. This time on the receiving end, Randall threatened to blow himself up with explosives strapped to his body, but before he could hit the trigger Moon Knight threw the Sapphire Crescent at Shadowknight, slicing his throat open and watched him fall off a dock into murky waters.
