A shorthand slang for “wrecked,” describing a bad loss in a trade.
REKT (or rekt) is an internet slang for “wrecked,” meaning severely damaged or utterly destroyed and ruined. However, depending on the context, it may mean something else.
In the crypto community, rekt often refers to someone who has experienced a heavy financial loss due to a wrong trade or investment. For instance, let’s say Bob invests more than half his savings on XRP just after its price soared. And a week later, the price of XRP nosedived to less than 20% of the previous week’s value due problems with regulation. In this case, Bob has gotten REKT.
In addition, the word REKT can also refer to a digital asset itself that loses value. In the above example with Bob, one could appropriately say XRP got rekt.
It needs to be noted that being REKT and truly losing money are different things, since rekt assets can still bounce back. Back in early 2018, BTC was rekt, yet near the end of 2020, not only did it bounce back, but it also reached a new all-time high.