slang To steal something in a furtive or surreptitious manner. Possibly an informal combination of "cop" and "swipe," both meaning the same. Apparently, the city has a big problem with young kids going around kiping tourists' wallets. I kiped a few beers from my dad's fridge and took them to the party.
See also: kipe
tv. to steal something. The punk kiped a newspaper just for the heck of it.