Truecrypt was mysteriously shutdown out of nowhere. Rumours abound that it was because of a national security letter or some other governmental interference. TC was never proven to be fundamentally insecure, but the original developers abandoned the project with the incident and the project was forked by others as VeraCrypt, which is now the recommended solution for local encryption (on Windows at least).

audit: http://istruecryptauditedyet.com/

final audit summary: https://blog.cryptographyengineering.com/2015/04/02/truecryp...