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A combination of the words access and hack, or h4x0r. This would be used by 1337 persons preventing a h4x0r from cheating them in a video game, such as Counter Strike.
h4x0r: I'm gonna h4x0r into his comput0r and get that n00b!

teh 1337 player: No! h4x355 (haxess) denied! lolllolololololollolol!!!!1!1
by Uncle Ben November 27, 2004