The Free On-line Dictionary of Computing (30 December 2018):

Wired Equivalent Privacy
WEP
Wireless Encryption Protocol

    (WEP) IEEE 802.11:1999.  A
   cryptographic privacy algorithm, based on the RC4
   encryption engine, used to provide confidentiality for
   802.11 wireless networks.  WEP is intended to provide
   roughly the same level of confidentiality for wireless data as
   a wired LAN (Ethernet), which is NOT protected by encryption.

   WEP is often wrongly expanded as "Wireless Encryption
   Protocol".  WEP is a protocol that provides encryption
   on wireless networks but that's not what it stands for.

   (2017-07-05)