History
When Atom Smasher and Molecule Man got into a fight in Bagalia, they inadvertently blew a hole in the ground. There, they built a city where the Hole is located. It is frequented by supervillains and fights are common.[1]
Taskmaster was sent by Max Fury to retrieve the Crown of Wolves, but Taskmaster wanted more money and hid in the Hole. The Secret Avengers wanted to get the crown before Max Fury could so Venom confronted Taskmaster, leading to a fight.[2]
Arcade somehow acquired ownership of the Hole, and went to mourn after coming to the realization that he was a failure as a villain. As he sat quietly, Constrictor arrived to rob the bar, but Arcade tricked the villain into knocking himself out by making him activate a giant hammer trap that Arcade had installed.[3]