Getting “Rekt” means that a trader will lose the margin to cover his position in the contract and therefore will be liquidated. In other words, you will lose a large part of your funds. Since these losses occur in leveraged trades, the losses are usually as large as the profits would have been, leaving your account at 0. Every trading account on BitMEX is subject to a predefined risk limit in order to minimize the overall risk of too many larger liquidations on leveraged position. When there are many large positions with leverage at the same time, this situation means an enhanced risk for other traders for deleveraging of their positions in case the large positions couldn’t fully get liquidated.