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1.
To masturbate furiously in a mental state of self-loathing.
"My life is so pointless, I have nothing else to do so I'm gonna retreat to my pissy little bedroom and have a HATE WANK."
by Bry L October 02, 2005
 
2.
source: gazthatch.

to masturbate whilst thinking about somebody you hate, to see whether you can finish.

a personal challenge of sorts.
I despise her so intensely, I can't even hate-wank.
by lardpony August 11, 2005