REKT is another crypto slang that stands for wrecked. REKT’s meaning is severely destroyed or brutally damaged. The precise meaning depends highly on the context.
In the crypto space, the meaning of rekt is associated with someone who has experienced huge financial loss due to their wrong investment strategy or trading activities. Suppose, John has invested an amount that is more than half his savings on a crypto asset, say Bitcoin, right after the price of the asset started surging. However, the very next week, Bitcoin saw a plunge in its prices by 20% due to several factors. In such a situation, John has a high possibility of getting wrecked or REKT.
The meaning of REKT is also associated with the loss of value of a digital asset. From the above example, we can also configure that it was Bitcoin that eventually got rekt. However, there’s a thin line between getting rekt and losing all your money. Rekt assets can also bounce back but it highly depends on the market movement, similar to how Bitcoin (BTC) got rekt in 2018 but eventually bounced back by the end of 2020 and created new all-time highs in 2021.