REKT (or rekt) is a misspelling of “wrecked”.
“Getting rekt” refers to a cryptocurrency trader who is utterly ruined and destroyed due to losses from a recent price crash.
Rekt is what happens when crypto traders get swept up by FOMO and end up becoming the victim of a pump and dump. You get rekt.
For instance, let’s say you put more all of your savings on DOGE just after its price soared due to a tweet from Elon Musk.
One day later, the price of DOGE plummets to less than 50% of the previous day’s value because crypto whales decided to dump and you’re now a bag holder. In this scenario, you gotten REKT.
The slang term comes from the online gaming world where it means to “lose badly”.