Loss of $3.35 million, @loraclexyz 3x shorting PONS and CASHCAT

According to Odaily, monitoring by Lookonchain shows that PONS on Robinhood is rising. @loraclexyz (0xefe...194b) is shorting 17.26 million PONS with 3x leverage, with a position value of $11.6 million, currently incurring a loss of $2.38 million. At the same time, they are shorting 22.5 million CASHCAT with 3x leverage, with a position value of $6.18 million, currently incurring a loss of $0.97 million.