The Elusive Avengers, a posse of young Red Partisans, including Valerka, a former schoolboy, Yashka, a devil-may-care gypsy, and two orphan siblings, Danka and his sister Ksanka, become Cheka agents after successfully stealing the map in The New Adventures of the Elusive Avengers. They wish to abandon their service and study in a university, but the young Soviet Republic needs them again. A group of White emigres, influenced by a scheming French politician, Monsieur Duc, wants to crown a new Tsar in Paris. Two obvious frauds compete for the Russian throne in exile, but they want to be crowned with the real Crown of the Russian emperors. The White emigres form a team that will infiltrate Soviet Union and steal the crown from the museum. Old "friends" from the previous movies, Ataman Burnash, Stabs Captain Ovechkin and Colonel Kudasov, prepare to enter USSR along with the notorious thief Naryshkin, a "specialist" who will steal the crown. However, Kudasov tries to double-cross his accomplices and is wounded by a gunshot. Ovechkin becomes the team's leader. The emigres return to the USSR, but Naryshkin is accidentally arrested by police. The Cheka doesn't want them to flee, and Yashka, disguised as a pick-pocket, is put in Naryshkin's cell and arranges his escape. He gains Naryshkin's trust and enters the perpetrators gang. They enter the museum at night, only to find the crown stolen by Ovechkin alone! Ovechkin flees Moscow by train, Ksanka pursues him, but loses the trail when he hides in Odessa catacombs. He is waiting to be picked up by a ship and successfully escape with the crown. Danka and Valerka immediately go to Paris, where they learn that Monsieur Duc didn't want to use the crown for coronation. Instead, Duc wanted to sell it for millions of dollars. After Kudasov tells that, he is shot by his former aide, Lieutenant Perov, who now works for Monsieur Duc along with Ovechkin. Duc's minions, led by Perov, hijack a ship to pick up Ovechkin and carry the crown to Cape Town. Unfortunately, Danka and Valerka are aboard. When the ship picks up Ovechkin and the crown, Yashka, Ksanka and Naryshkin board it to thwart Perov's plan. Ovechkin, outnumbered and outgunned by the Chekists, tries to throw the crown to the sea, but Naryshkin steals it and hands to the Avengers.
