A variant of WTF, it can also be used to shorten "what the fuck is" (see wtfxup). WTFX is often used angrily in responses demanding moar information (see example 1), making it an antithesis of lolwot.
The word is not restricted to the immediate necessity of imperative information, however, as it can also be used to express disdain or disapproval in a joyful or mocking manner (see example 2).
The most common, however, being a simple request for further elucidation (see example 3).
Ex. 1:
Boy: So I heard you got some action at that party a few nights ago.