The sole survivor of an ancient race of demons, the Dragon of the Moon seeks to gain power by corrupting the human race. The Dragon once allied with Mordred who was trying to overthrow King Arthur Pendragon of Britain, but it was defeated and imprisoned within Saturn's moon Titan by the Eternals. The Dragon later managed to corrupt Thanos, who murdered most of the population of Titan. It also began to corrupt Moondragon. With the aid of the Defenders, Moondragon was freed and the Dragon destroyed.

During Quasar (Phyla)'s quest to find the Kree savior, Moondragon began suffering from the same headaches that signaled the coming of the Dragon of the Moon, eventually in battle with the Phalanx and near death, she succumbed to the Dragon and was transformed again. She later died at Ultron's hands and dissolved into nothingness.

A year later, in the realm of Oblivion, the Dragon was holding Moondragon in its gullet. Phyla and Drax the Destroyer, sent by Mentor, attempted to rescue Moondragon, but Maelstrom intended to feed them to the Dragon. The former went first but the timely arrival of Quasar (Wendell Vaughn) prevented Drax from being consumed as well. Just before the Dragon could consume them both, Phyla, having become the new Avatar of Death, destroyed the Dragon to free Moondragon. The Dragon then turned into a flock of bats.