Windows TrueCrypt Fatally Flawed
Continued research after the first TrueCrypt audit yielded inconclusive results has discovered fatal privilege escalation vulnerabilities allowing for complete takeover (archived). So far this is known to affect TrueCrypt on Windows boxes, but there is still potential for other flaws to be discovered in TrueCrypt on other platforms. Details of the vulnerabilities are not yet disclosed, but this supports the possibility that it may not be possible at all to develop software offering any level of security on the Windows platform.
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Further: The VeraCrypt derivative forked from TrueCrypt though this particular issue was reportedly patched, likely continues to posses undiscovered security issues.