What is REKT?

The term “REKT” is used to refer to individuals who make a very poor trade and lose a significant amount of funds. Originally coined by gamers in first-person shooter games, it is a derivative of the word “wrecked.”

How Does It Relate to Cryptocurrencies?

There have been numerous instances where people have made incorrect predictions, resulting in losses of tens or even hundreds of millions of dollars. In such cases, the cryptocurrency community says that these traders “got REKT.”

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Such substantial losses are often associated with margin trading. During margin trading, a person’s losses extend beyond their own funds to include borrowed money from an exchange for trading at higher levels.

Where Can You Find Information on Who Got REKT?

Cryptocurrency exchange Bitmex was one of the first to introduce cryptocurrency margin trading. Since then, social media channels like “REKT” focus on sharing information about significant losses occurring within the exchange.