I'm not familiar with the details, but here's a quote:
This may be an appropriate thread to mention that the the "checksum" at the end of an address does not effectively prevent single character errors or transpositions.
For instance
https://blockexplorer.com/search/1ByteCoin shows that
1ByteCoinAddressesMatch1kpCWNXmHKW
1ByteCoinAddressesMatch1kpCxNXmHKW
are both valid addresses even though they only differ by one character.
Similarly, the valid addresses
1ByteCoinAddressesMatchcNN781jjwLY
1ByteCoinAddressesMatchcNN718jjwLY
only differ by one transposition.
ByteCoin