The Black Hood has been revealed, but the mystery is far from over.
Hal’s hostage situation also meant he wasn’t the Black Hood who invaded the Andrews household and attacked Archie and Fred.
Both incidents have Fred Andrews in common, and with Hiram Lodge looking to ensure a mayoral victory for his wife by any means necessary, it wouldn’t be surprising if that Black Hood was merely one of his hired guns in disguise.
Hal mentioned he had nothing to do with the Black Hood appearance at the night of the debate, which made sense considering he was seen protecting Betty during the attack.