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A term used to describe an incident in which one has been screwed over, injured, robbed, or generally anything negative. Originates from the gym, where a "derack" is when someone removes your weights from the bar while one is still performing the exercise.
Example 1:
Bob: What happened during 9/11?
Carl: Oh nothing, just Al-Qaeda deracked New York City in a solidly executed derack.
Bob: How many lives were deracked?
Carl: 2,996 lives were deracked, to be exact.

Example 2:
George: What's wrong with your cousin's leg?
Sukhbinder: Oh, it got deracked by an IED in Iraq.
George: Oh.

Example 3:

Horatio: What happened to that jewelry store?
Jose: $300,000 worth of jewelry was deracked by a bunch of Colombians, who pawned it off for some premium coke.
derack by khuneytunes July 15, 2014
Related Words

Dejackification 

The process of undoing a completely clusterfucked build process. Used in both in Agile and Waterfall methods. Usually this process happens right after a Death March, but can also happen as part of Short Timer syndrome.
A developer haphazardly converts 190 projects to Visual Studio 2010, .Net 4, and the newest version of all control packages, and then leaves. After the fallout is cleaned up, a dejackification process must happen before anyone can actually do any work again.
A colorful and friendly way to refer to the male genitalia. Rolls off of the tongue (no pun intended) easier than penis, pecker, who-who or wang wang.
"Dude, the other night my deeack was so hard I could cut diamonds with it" "Man, my boss is such an F'in Deeack!!"
deeack by Mr. Deeack January 9, 2008

DeBackdogDePorneger 

what a person says when he/she is brain dead from eating too many mushrooms and tries to talk.
Adam: Hey Jared, I'm trippin out!
Jared:.....DEBACKDOGDEPORNEGER!!?!
Adam: (laughing hystarically)
a big pimpin playa who is very good with ladies
that guy is a demack with them girls
demack by Brandon Demack December 20, 2004
to chronically underachieve and have all your friends laugh at you (to your face and behind your back)
I can't believe Rob did that, he is such a delack sometimes
delack by Tyrian September 17, 2004