The slang term
Pwn, used primarily in the Internet gaming culture can mean
- to own,
- have mastery over,
- and/or to soundly defeat an opponent.
It is sometimes used for taunting enemies in-game and rubbing in victories. It can also be used by non-gamers, in real world contexts. e.g. "I got "pwned" by my manager".
In internet security jargon, to "pwn" means "to compromise" or "to control", specifically another computer (server or PC), web site, gateway device, or application; it is synonymous with one of the definitions of hacking. An outside party who has "owned" or "pwned" a system has obtained unauthorized administrative control of the system.
"Pwned" is slang for "owned." In this context owned means deafeted decisively. As an example you could say, "The 1992 US Olympic basketball team pwned the competition."