Stands for Eleet. This is the original form of pointing out one's greatness from any standpoint, beit athletic skills, academics, or even hacking or cracking processes.
It was coined by a cdc group when they listened on a port :31337 and pointed out the Eleet-31337 - ness of their exploits.

to be elite. one who has skills.

Spelling of "elite" primarily favoured by the alphabetically impaired.

The prime number between 31333 and 31357.

Hacker lingo for "elite." Numerical form of ELEET.

31337 is the default port used by the Back Orifice trojan/Remote Admin Tool.

A UDP Port once exploited By a hacker / cracker group to gain access to windows 95 ......... Obviously patches have been released to fix this vounerabilty .... now used by script kiddies to call themselves elite (usually shortened to 1337)..... sigh :(