Cybersquatting is so 20th century.
Welcome to the new trend in domain registrations: soundsquatting.
Defined as the use of similar sounding letters to seemingly circumvent the direct issues arising from the registration of trademarks, soundsquatting utilizes homophones for that purpose.
For example: YewTube, EweTube and the classic MikeRoweSoft, are all soundsquatting samples; these domains are all registered counterparts of famous brands.
In an extensive article at the World Trademark Review, the pitfalls arising from the practice of soundsquatting are clearly defined.
The irony of it all: the domain name SoundSquatting.com was registered after the publication of the aforementioned article, and it’s up for sale at Sedo already. 😀
Another beauty: FeisBook.com.