The Streets of Rage comic was a three-part comic serial loosely based on Streets of Rage 2. It was featured in Sonic the Comic, a comic book by Fleetway known for featuring comics based on various Sega games.
The comic stars Axel, Blaze, and Max(who here is an ex-cop rather than a wrestler, making him essentially replace Adam Hunter in the comic). In the first story, Axel is brutally injured by some former cops, which motivates the trio to quit their jobs as police officers and fight crime as vigilantes. The first criminal they defeat is a crime boss named Hawk, who was a former policeman himself and was once a partner of Max.
The second story introduces Skates, who in the continuity of the comic is the stepson of Murphy(the Unnamed Police Officer from the first game). It was also the first story to feature Mr. X, who pretends to reform. Mr. X has killed Murphy and planted two bombs on a boat. Our heroes only defuse one bomb, but everyone survives the explosion anyway. Skates wants to kill Mr. X to avenge his stepfather's demise, but spares Mr. X when he begs him not to.
The third and final story has Axel, Blaze, Max, and Skates being attacked by Mr. X's minions. Blaze places a bet against the lives of herself and her teammates. Fortunately, Mr. X loses the bet and is forced to spare them. After Blaze collects her winnings from the bet, they learn that Mr. X was killed for failing to kill the heroes and has been replaced by a new Mr. X, who vows to avoid the original Mr. X's mistakes and kill the heroes.