In essence it relies on users making typing errors (typos) when entering a site or domain name. The success of a typosquatting scammer depends on the number of victims that are likely to misspell the intended domain and land on the scammers pages. To maximize the success rate takes some insight into the workings of human mind-fingers coordination. Damages can amount up to a maximum of $100,000 per domain, but they depend on several factors, including how the domain was used and to what extent it included the popular name.”]
Source: https://blog.malwarebytes.com/cybercrime/2016/06/explained-typosquatting/