This is the Scorpion issue of The Gauntlet event, which brings back all of Spider-Man’s classic villains. Peter’s lawyer roommate, Michelle, is dating a dude who sets off his spider-sense, so he tails him and finds out that he’s competing for the honor of getting Mac Gargan’s old Scorpion costume from The Hood. While he’s watching, the Carmilla Black version of Scorpion gets the drop on him.
Inexplicably, she doesn’t know who Spider-Man is. She does give us a little history of herself, though, which is helpful.
And how about that Gaydos art, huh?
After Lady Scorpion stings him, Spidey is depowered, making him vulnerable to Hood’s team. They attack and during the melee Lady Scorpion snatches the Gargan suit from Hood, so Hood redirects his troops away from Spider-Man and on to her. Spidey gets away and Hood and his gang pursue Lady Scorpion.
His powers return and Spider-Man rescues her. She tells Spider-Man that she owes him a favor, but at the end of the episode we see that she was working for Sasha and Ana Kravinoff–and gives them the Gargan suit.