the registration of a commercially valuable Internet domain name, as a trademark, with the intention of selling it or profiting from its use.

1995–2000; cyber- + squat + -ing1

cybersquatter, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
cybersquatting (ˈsaɪbəˌskwɒtɪŋ)
the practice of registering an internet domain name that is likely to be wanted by another person, business, or organization in the hope that it can be sold to them for a profit

Collins English Dictionary - Complete & Unabridged 10th Edition
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Cite This Source's 21st Century Lexicon
Main Entry:  cybersquatter
Part of Speech:  n
Definition:  a person who buys one or more commercially viable domain names for the purpose of reselling for a profit
Etymology:  cyber- 'cybernetics' + squatter
Usage:  computing's 21st Century Lexicon
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