TrueCrypt was initially released as version 1.0 in February 2004, based on E4M (Encryption for the Masses). Several versions and many additional minor releases have been made since then, with the most current version being 7.1a, released 7 February 2012. TrueCrypt supports Microsoft Windows, OS X and GNU/Linux operating systems. The version for Windows 7, Windows Vista, and Windows XP can encrypt the boot partition or entire boot drive.

TrueCrypt is discontinued source-available freeware utility used for on-the-fly encryption (OTFE). It can create a virtual encrypted disk within a file or encrypt a partition or (under Microsoft Windows except Windows 8 with GPT) the entire storage device (pre-boot authentication). On 28 May 2014, the TrueCrypt website announced that the project was no longer maintained and recommended users to find alternate solutions.

Good News:
TrueCrypt has now been forked by some developers in Switzerland and they will continue this project. They are promising that all security issues will be addressed and fixed, so no one can force them to abandon this project.
"Currently it is very unclear what really happened. Was it really just the end of a 10year effort, or was it driven by some government. While a simple defacement is more and more unlikely we still don't know where this is going. However the last 36 hours showed clearly that TrueCrypt is a fragile product and must be based on more solid ground. We start now with offering to download the Truecrypt file as is, and we hope we can organize a solid base for the Future,"

First Audit Report:
Many users are worried about Truecrypt that isn't secure, me too I am using Truecrypt to encrypt some external HDDs.
First audit report of Truecrypt is prepared by iSEC partners, Inc. for Open Crypto Audit Project (OCAP) and released to public, they just finished Phase I

Now Phase II begins on the formal cryptanalysis.

Further goals of audit process:
  • Resolve license status on the current (v. 7.1a) TrueCrypt source code (license v. 3.0 ) copyright & distribution, in order to create a verified, independent version control history repository (signed source and binary)
  • Perform and document repeatable, deterministic builds of TC 7.1a from source code for current major operating systems:
  • Windows 7
  • Mac OS X (Lion 10.7 and Mountain Lion 10.8)
  • Ubuntu 12.04 LTS and 13.04, RedHat 6.4, CentOS 6.4, Debian 7.1, Fedora 19
  • Conduct a public cryptanalysis and security audit of the TC 7.1a

Truecrypt Must Not Die, Hopefully will continue this project.
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