DROWN is the name for this new SSLv2 woe and is short for Decrypting RSA using Obsolete and Weakened eNcryption. This is a man-in-the-middle attack against servers running TLS for secure communication. DROWN is officially known as cve-2016-0800 where it's explained as, "A padding oracle flaw was found in the Secure Sockets Layer version 2.0 (SSLv2) protocol. An attacker can potentially use this flaw to decrypt RSA-encrypted cipher text from a connection using a newer SSL/TLS protocol version, allowing them to decrypt such connections. This cross-protocol attack is publicly referred to as DROWN."
DROWNAttack.com was setup to provide more details on this latest high profile, open-source security issue. There are also more details via the Red Hat Security Blog.