What does Rekt mean in Crypto? Rekt is the distortion of “wrecked”, coming from online gaming slang. To define something that got completely destroyed or a person that experienced a catastrophic failure.
Example: Are you new to crypto or tired of getting rekt? This space can empty your wallet fast!
In the context of crypto trading, rekt refers to financial ruin – suffering a heavy financial loss from a coin or token that has dropped significantly in its value, caused by a bad trade or investment.
You might say that a crypto investor got “rekt” when he/she is losing big time with a trade, for example, selling their bitcoin right before the price skyrocketed. The term can also refer to the cryptocurrency itself that nosedived in price, or a market that dropped significantly, e.g. “the market is rekt.”
The term is usually used among the online gaming community describing a player (or team) that was defeated in an embarrassing or silly way. In the crypto community, rekt often refers to margin traders that have a liquidation for making a bad trade.
For example, Alice is trading on margin and opens big leverage on a long position. If the market goes down and she gets liquidated, we may say “Alice got rekt.”
In some cases, being “rekt” does not mean truly losing money, since “rekt” assets can still bounce back.