1. [cracker slang; often written “0wned”] Your condition when your machine has been cracked by a root exploit, and the attacker can do anything with it. This sense is occasionally used by hackers.
2. [gamers, IRC, crackers] To be dominated, controlled, mastered. For example, if you make a statement completely and utterly false, and someone else corrects it in a way that humiliates or removes you, you are said to “have been owned” by that person. When referring to games, “I own0r UT GOTYE” means that one has mastered Unreal Tournament, Game of the Year Edition to such a level that even the hardest AI characters are mere lunchmeat, and that no ordinary mortal player would even receive a point in competition. There are several spelling variants: 0wned, 0wn0r3d, even pwn0r3d. Hackers do not use this sense.