Tsukune swaps bodies with Moka and instinctively checks himself out.
A peeping tom is on the loose, and an obnoxious person by the name of Morioka Ginei is introduced. How obvious can this get? Anyway, it turns out Gin is the president of the newspaper club which Tsukune and company joined last week. For their first case, Kurumi suggests that they seek out the identity of the serial peeping tom that has been preying on girls recently.
The first task at hand, according to Gin is of course to post up information fliers around the school seeking public help. He asks Moka and Kurumi to put them up, taking the opportunity to peek from below. Tsukune shows up and catches the senior in the act, but for some reason or another, the blame is shifted onto our hero. Cue paradox and contradictions. All this while, the girls have been throwing themselves at Tsukune, but this time around, they get mad at Tsukune for the possibility that he had seen their underwear. Lawl wut? Apparently, Kurumi wouldn't have mind showing it to Tsukune as long as he asked, but Moka blushes so much you'd think that Tsukune saw her in the nude or something. She even tells him that she hates perverts (º_o)??
After getting wind that Tsukune and Moka might be going steady, Gin gets envious and decides to tear the two of them apart. He manages to lure the ever gullible male lead to a secluded location and tricks him into peeking at the girls in the changing room. Stupid Tsukune is stupid. Gin snaps a photograph of Tsukune in action and flees, leaving the latter all alone to face the female's wrath. To make matters worse, Moka appears out of nowhere and witnesses the entire commotion.
Moka then heads to the rooftop to ponder things over, unsure whether to believe Tsukune's claims that he wasn't intentionally peeping, when Gin shows up in attempts of comforting her. While she does not fall for his advances, Moka is gullible enough to almost have bought Gin's story that Tsukune did actually peep, with the photos he took earlier. Luckily, Kurumi and Yukari in their weird detective get-up arrives in time to point out the discrepancy in the pictures Gin had. Despite all the denial, Gin's intentions were exposed when photographs of the girls he took slipped out of his uniform.
Gin realizes he is now cornered and transforms into his true self, a werewolf, which unlike the previous episode's foes, is actually a formidable opponent on par with vampires. Tsukune shows up and does his usual, but no one hit knockout punch from True Ancestor Vampire, as Gin's agility was magnified by the full moon, rendering him impervious from any hits. And then oops, the clouds shroud the moonlight, and Gin is stopped in his tracks, allowing Moka to sock him one. The following day, Tsukune and the girls put up notice posters clearing Tsukune of all accusations and everything ends well.
Another ho hum episode. In any case, with the show nearly over, we finally get to meet the fourth addition to Tsukune's harem, who is none other than the ice woman Mizore. Yay. Shin out.