[Cenright]

This is crazy.
Pawned is a chess term. The "a" could have gotten edited out to abbreviate. The "e" might have been edited at one time also, but it didn't catch on.
Owned is a ... whatever term. I myself hit the "p" instead of the "o" all the time. Some might have seen someone make a typo and just thought it meant something and used it. Things like this get around these days.

PWNED would be pronounced pwan-d or pawn-d. The "d" almost acts as a second sylable.