The one telling the story points out that everyone seems to have a story to tell about the bounty hunter droid known as IG-88. The narrator speaks of the various origin stories surrounding IG-88, including tales of it murdering its creators or rewriting its own programming to recognize no master. Other stories suggest it surgically removed its own crucial programming to prevent damage, "allowing it the freedom to tear and reshape itself with the dedication of an artist." The narrator also mentions that witnesses have reported IG-88's destruction on numerous occasions, only for it to reappear later.

IG-88 accepts a mission from an Imperial officer: to locate and eliminate a shuttle thief by the name of Venga Liss, who has taken refuge inside a cave. Keeping with his custom of not accepting bounties, IG-88 uses a thermal detonator to cremate Liss's remains after killing him. IG-88 is unconcerned that Liss is a high-ranking member of an outlaw gang and that a substantial reward is offered for his capture. The Imperial officer is enraged with IG-88 because obliterating Liss's remains makes it difficult to identify the thief or compensate IG-88. IG-88 has no desire for a reward, believing that the act of killing is its own reward.

The narrator comments that IG-88 strives for perfection in thought, body, and the quality of the opportunities it pursues. This pushes IG-88 to undertake dangerous assignments, such as investigating a prison escape on Kalarassi Five that took place five years prior. IG-88 is accompanied by 4-LOM, Embo, Dengar, and Krrsantan. While the other bounty hunters accept a stormtrooper's explanation that the deceased Liss was responsible for the prison break, IG-88 is skeptical and investigates the stormtrooper. He discovers that the stormtrooper is, in fact, the Snivvian Kaluub Akjee, one of the escaped prisoners from Kalarassi.

IG-88 demands that Akjee reveal the location of his fellow escapees. However, the droid finds itself surrounded by Akjee's accomplices, who include a Duros, a Sullustan named Lopz, and a grey-skinned alien. Akjee's associates use their blasters to destroy IG-88's body, but they manage to capture its head.

The criminals force their way into a local establishment and restrain the employees. Akjee instructs Lopz to connect IG-88's head to a computer, hoping to claim the bounties that IG-88 has collected. He envisions them acquiring a starship and escaping off-world to live lavishly. Akjee and his associates are astonished by the value of IG-88's bounties and decide to seek payment from the Gillanium Syndicate. As fugitives, they are hesitant to deal with the Galactic Empire or the Bounty Hunters' Guild. While the criminals indulge in drinks, none of them notice IG-88 secretly withholding some holoclips or initiating a call to its ship, IG-2000.

Later on, Akjee and his accomplices have a meeting with The Underlord, the masked leader of the Gillanium Syndicate. They assert that they have eliminated numerous bounties, including Prixqip the Mutilator, Oolamalloola, the Black Ivory Quintuplets, and Venga Liss. While Akjee feels uneasy about including Liss, Lopz takes credit for killing Liss, hoping to claim the reward money. However, this infuriates the Underlord, who reveals himself to be Liss's father.

The grief-stricken Underlord and his guards launch an attack on Akjee and his associates, resulting in the deaths of several of them. The narrator explains that while crime lords may offer competing bounties, none of them are foolish enough to attack them on their own territory. While the guards secure the Underlord, no one notices IG-88 signaling its ship to attack the Gillanium Syndicate's hideout. IG-2000 blasts a hole through the ceiling and deploys a new body for IG-88. IG-88's head is reattached to the body, and it attacks the surprised Gillanium Syndicate, defeating the Underlord and several of his men.

As IG-88 updates its bounties, the narrator informs the reader that all the tall tales surrounding IG-88 are, in fact, true.