To be ripped off, or be in a situation resulting in a negative outcome. May have originated on the London streets, but is used by stoners, esp. regarding shit deals.
Dude! You got skanked, that 8th is well flim!
Ha! Skanked!
That biatch can't give headfor shit, skanked or what!
1. After Johnny slept with that girl last night and realized he had a strange itch, he knew he had been skanked. 2. After watching the OC, Sandra became skanked and was wearing skimpy outfits more often