A more thorough explanation:

Typosquatting is when someone registers a domain name that is similar or misspelled compared to another website's domain name. The purpose of typosquatting is to capture traffic intended for the legitimate website. Typosquatters can make money by showing pop-up ads, stealing payment information, or even selling the domain to the legitimate website owner to prevent further confusion.

Typosquatting is illegal under the Anticybersquatting Consumer Protection Act (ACPA). This act prohibits bad-faith and abusive registrations of distinctive marks as internet domain names with the intent to profit from the goodwill associated with such marks.

For example, if someone registers the domain name "goggle.com" instead of "google.com," they are typosquatting. They are trying to capture traffic intended for Google's website and potentially make money from it.

If a victim of typosquatting takes legal action, they can receive statutory damages of "not less than $1,000 and not more than $100,000 per domain name" under the ACPA. Injunctions are also commonly sought to combat typosquatting.