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1.
A trivial theft.
I accidently kyped my brothers lighter.
by Fidel June 03, 2004
 
2.
A verb meaning the act of taking another person's possessions without asking with the intent to give them back eventually.
"Dude, James totally kyped my chem notes and didn't give them back until after the exam. Jerk!"
by ScrabbleDiva October 22, 2008