In 1890s New York, a talented sculptor runs a wax museum acclaimed for its lifelike statues. The tranquility shatters when his business partner, driven by greed, sets the museum ablaze for insurance money, leaving the sculptor disfigured and presumed dead. The fire destroys his beloved creations and seemingly ends his career. Miraculously surviving, albeit severely injured, the sculptor is heartbroken over the loss of his artworks and vows to rebuild his life and museum, no matter the cost.

Months later, a new wax museum emerges, touted for its astonishing realism, especially in the Chamber of Horrors, which features figures of notorious criminals. Unknown to the public, the artist employs a grim and macabre method to sculpt his figures, driven by a desire for vengeance and perfection. As the museum gains popularity, a series of mysterious disappearances begins to unsettle the city, drawing the attention of a young woman and her friend who start to suspect the horrifying truth behind the lifelike statues. Their curiosity leads them into a chilling investigation, inching closer to uncovering the sculptor's dark secrets.