The developers behind the TrueCrypt encryption software have given up the ghost and decided to no longer maintain the application. But, one of the developers says a nascent effort to fork TrueCrypt is unlikely to succeed. The Open Crypto Audit Project has already audited one portion of the software and is planning to do the same for the cryptographic functions in the software in the near future. Last week the group released a verified version of TrueCrypt 7.1a, the last version of software released by the developers before they inserted a warning that the software might include unfixed security flaws.
Source: https://threatpost.com/possible-truecrypt-fork-in-the-works/106769/