To remove one's status of being L33T.
The word "DeL33T" is most commonly used by L33T players on MMORPGs to discourage teammates who are not as good as them.
To be DeL33Ted means that the player will now be concitered iether a n00b or a n00blet from that point on.
L33T 2: "You mean... you're deL33Ting me??"
~ A L33T getting deL33Ted by his superior