TrueCrypt audit finds “no evidence of backdoors” or malicious code
Since September 2013, a handful of cryptographers have been discussing new problems and alternatives to the popular security application. By February 2014, the Open Crypto Audit Project—a new organization based in North Carolina that seeks formal 501(c)3 non-profit status—raised around $80,000 towards this goal on various online fundraising sites.
"[The results] don't panic me,” Matthew Green, a Johns Hopkins cryptography professor who has been one of the people leading this effort, told Ars. “I think the code quality is not as high as it should be, but on the other hand, nothing terrible is in there, so that's reassuring”