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Rekt

When a user gets “REKT” in cryptocurrency, it typically means that they have lost a significant amount of money due to a bad trade or investment decision. This slang term is often used in the crypto community to describe someone who has suffered a large financial loss.

One example of a “REKT” situation is the BitMEX trading platform’s flash crash in May 2020, where the price of Bitcoin dropped by nearly 60% in a matter of minutes. Many traders were unable to close their positions quickly enough, resulting in substantial losses. The incident resulted in lawsuits and investigations into BitMEX’s trading practices.

  • Race attack
    A race attackA race attack, also known as a double-spending attack, is a type of attack on a blockchain network where an attacker attempts to spend the..., also known as a double-spending attack, is a type of attack on a blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. […]
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  • Layer 2
    In the context of cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain..., layer-2 refers to a secondary protocol or framework built on top of a blockchainThe blockchain is a digital ledger that records transactions in a secure and […]
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  • Multisignature
    MultisignatureMultisignature, also known as multisig, is a security feature used in cryptocurrencies that requires multiple people or parties to sign off on a transaction before..., also known as multisig, is a security feature used in cryptocurrencies that requires multiple people or parties to sign off on a transaction before it can be completed. This is […]
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