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A term origionally coined by t3hpython of the TOTSE "Paedophile baiting is hilarious!" thread. It is used to describe a situation in which a pedophile is tricked into thinking the Baiter is a young girl, and Baiter has put a twist in the conversation.
pedo: omg lets have sex, because you are 13 and i love little girls
Baiter: This is her father. I'm going to hunt you down and chop off your balls now.
pedo: i'm so sorry i didnt know ill never do it again!
Baiter: pedowned
pedowned by Kerry (heart) July 5, 2006

pezowned 

Owned with "PE" in front of it.
'Oli got pezowned by me in super smash bros"
pezowned by PEZOWNER! January 20, 2008
Related Words
To marry a pedophile, i.e. a very sexy 21-year-old man marrying a 14-year-old young lady.
Aya: Reg proposed to me today!
Dog: ...
Aya: ... what?
Dog: You're going to PEDOWED him?!
pedowed by Andrea Grudis January 2, 2008