A wallet shorts PONS and CASHCAT and still owes $25M
The wallet above the PONS and CASHCAT shorts is still deep in past losses.
Loracle held a 3x short on PONS worth over $16.5 million on Hyperliquid.[1] His CASHCAT short was 36.3 million tokens worth over $6.2 million.[2] The shorts were up about $2.3 million; past contract losses were about $25 million.[3] When PONS hit its all-time high, the short was down more than $6.9 million.[4] Overseas KOL MLM claimed he raised eight figures to hunt the shorts, then did nothing.[5]
Who gains, who loses
Receipts
As of September 11, 2026, on-chain data showed that loracle held a 3x leveraged PONS short on Hyperliquid with a position of 27.75 million PONS worth over $16.5 million at an average entry price of $0.665.
“According to on-chain data, loracle currently holds a 3x leveraged PONS short on Hyperliquid, with a position of 27.75 million PONS worth over $16.5 million, at an average entry price of $0.665.”
As of September 11, 2026, loracle’s 3x leveraged CASHCAT short position on Hyperliquid was 36.3 million CASHCAT worth over $6.2 million at an average entry price of $0.2, with unrealized gains of about $1.3 million.
“At the same time, loracle is also the number one short seller of CASHCAT, holding a 3x leveraged CASHCAT short with a position of 36.3 million CASHCAT worth over $6.2 million, at an average entry price of $0.2, with unrealized gains of…”
As of press time on September 11, 2026, loracle’s combined unrealized gains on his short positions in PONS and CASHCAT were about $2.3 million, while his total historical contract losses stood at approximately $25 million.
“loracle currently holds short positions in two major meme coins, PONS and CASHCAT, with unrealized gains of about $2.3 million, but his total historical contract losses still stand at $25 million.”
According to a September 11, 2026 article, when PONS hit its all-time high, loracle’s PONS short position had a peak unrealized loss exceeding $6.9 million.
“When PONS hit its all-time high, loracle's PONS short was down over $6.9 million at its peak.”
As of September 11, 2026, Odaily reported that overseas KOL MLM had posted on X claiming to have raised eight figures in capital to target loracle’s short positions but ultimately took no action.
“Overseas KOL MLM once tried to assemble a team to "hunt" loracle, posting on X claiming to have raised eight figures in capital, though no action was ever taken.”
CABAL DESK is reporting, written with AI under human oversight. Every bracketed number opens its receipt: the source, the quoted span, the hash. Headlines and characterisations are commentary; the sourced facts are the receipts. Not investment advice. Corrections log. Editorial & legal.