Glossary
Rekt
Internet-slang spelling of "wrecked" — used in crypto to describe traders, protocols, or projects that have suffered catastrophic losses, exploits, or liquidations.
"Rekt" — phonetic spelling of "wrecked" — has been in gaming slang since the early 2000s and carried over into crypto as the universal word for catastrophic loss. "Getting rekt" can describe a leveraged liquidation, a rug pull, a hack victim, or a protocol's blow-up.
The term is also the name of the crypto-security publication Rekt News, which catalogs major exploits and ranks them by total value lost. Being on the "Rekt leaderboard" is the unwanted distinction of suffering one of the largest hacks in DeFi history.