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1.
When a guy spanks or slaps another person with semen on his hand - i.e. just after masturbating.

This is a generally condescending move on par with tea-bagging, and - if executed properly - causes considerable distress on the recipient's end. Do not attempt this on someone that is physically stronger than you because they will perceive it as a sign of great disrespect.
"John was being a real douche last night, so I jerked it to a picture of his girlfriend and then spunked him in his sleep."

"Dude, knock it off or I'll spunk you."
av Fakespeare 17 april 2009
 
2.
to waste or lose something ie money
i just spunked all my money on the fruit machines
av nb612 19 mars 2007
 
3.
When a user of a forum responds to an obscure spam message thinking it is a legitimate message.
Post 1: Can someone give me the ingredients for apple pie?
Post 2 (spam): I don't know her, can you give me more details? -usually with a linked signature
Post 3: Know who? The person that made the apple pie?

The author of Post 3 got Spunked
av Fat Atheist 9 november 2009