Kaputnik is a conjunction of the word "kaput" (meaning "broken, damaged, destroyed") and "Sputnik" (Russian robotic spacecraft). Meaning is obvious: something which hasn't come up to expectations.
"Kaputnik!" exclaimed John watching his RC helicopter explode in the air.
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Vanguard TV-3 sattelite, commonly known as "America's Answer to Sputnik"
The Vanguard rocket exploded, resulting to a codename "Kaputnik".