That record was thoroughly eradicated today by player "stewie Zanjoahir," who reportedly lost over 213,000,000,000 ISK when he tried to transport a huge cache of valuable blueprints through nullsec in a tiny, unfitted frigate. That much ISK could currently buy around 367 30-day game time codes (PLEX) at around 580 million ISK each, for a combined total of over 30 years of game time. To put that into perspective, 367 PLEX bought with real cash would cost about $6,422.50 US.
Some players doubt the authenticity of the kill report, but the killboard it was posted on claims to have verified it with EVE's automated API service, and CCP Games itself posted about the kill on Facebook. Kills of this scale may have happened before, but it was previously impossible to tell whether a destroyed blueprint was a cheap copy or an expensive original. The value of this kill may even be higher than the reported figure, as several of the blueprint copies that weren't counted are actually worth billions of ISK. Today's kill may be the largest confirmed kill of any ship in EVE's history and could even be the most expensive character death in any MMO to date.
[UPDATE: Evidence has emerged that the kill might not be authentic. EVE-Kill has since updated its report with a revised value of 5.3 billion ISK]