This has caused Cybersquatting to be an actual thread to trademark owners from the beginning
Now it’s done through different means
The ICANN has put in place a Sunrise period and a Claim period for most domain names, where trademark owners can claim domains in advance for their marks or claim that it had a better right over someone else through the Claim period.
Such discussions are generally resolved by a Trademark Clearing house appointed by ICANN.
Nonetheless, if the trademark owners fails to use those alternatives, it may also use Uniform Domain Name Dispute Resolution Policy (UDRP).
Most used arbitration center for that purpose is WIPO.
This protocol is mandatory for all ICANN-accredited registrars:
Responsible for registering domain names under generic top-level domains (gTLDs) such as .com, .org, .net, etc.).
ICANN has allowed the introduction of new gLTDs (e.g., .nyc, .shop, .film, .family, .bmw, etc.) and has also created additional rights protection mechanisms, for example:
The Trademark Clearinghouse, which operated as an international repository of trademark data.
ICANN is committed to reviewing all rights protection mechanisms before expanding any further their gTLDs.