At an unknown time, Hammerhead got into a gang fight with Mr. Fixit and, during a confrontation, he was betrayed by Martin Li who became Mister Negative upon touching a shard of the Siege Perilous.[1]
Martin Li (Earth-TRN455) from Ultimate Spider-Man (Animated Series) Season 4 18 002

Back when his world was black and white

He wanted to become the new crime lord and turn into stone anyone who opposed to him, but he was eventually defeated by the joint forces of Spider-Man Noir, Mr. Fixit and the Spider-Man from an alternative dimension.[1]

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