The act of being screwed by an online merchant, specifically due to the merchant being incompetent and amateurish. Derived from the debacle of the mtgox.com Bitcoin trading site's crash and burn and the resulting chaos trying to re-open. Poor communication, outright lies, scapegoats, Oh My!
Dude, you've been goxxed.
by ledbetter June 26, 2011
verb. passive. Waking up and realizing your financial speculation just went south...and you should have known better. The origin is the general belief that the bitcoin exchange Mt. Gox knew for a long time that they were insolvent yet continued to take customer money to cover up their malfeasance.
"I sent money to a guy on Craig's List for a case of motor oil. He is nowhere to be found. I think I got goxxed."
by wordjumper February 26, 2014