When someone is being "bait", it means that they are not being careful in whatever they are doing, and are likely to be caught.
If a situation is "bait", it means that there is a large chance of being caught at whatever you are doing.
Henry: Naah mate, thats so bait!
3)Get you found out(by authorities: police,teachers,security etc)
4)baited - Snitched / Got you found out
2) Boy steals from the shop - "You're lucky you didn't get caught cos you were bait!"
3) Why would you go with him, he'll bait you up
4) He just baited you up to Mr Strict, lets get him after school