The slangĀ “rekt” comes from the word “wrecked,” and it generally refers to something that was totally ruined or a person who had a catastrophic failure. Nevertheless, the phrase could indicate several things depending on the situation.

Rekt is a term used in the realm of blockchain and cryptocurrencies to represent a significant financial loss brought on by a poor trade or investment.
The term could also be used to denote a market decline or an asset that lost too much of its worth.
Rekt is a phrase used in the online gaming community to describe a player (or team) who lost in an embarrassing or ridiculous way. Or someone who is losing a contest really badly.

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