I did read the Krebs article early on, and he does seem to be accurate in his reporting. Here's a comment I read on Slashdot which appears to support his assumption that the Truecrypt developers may have decided to end the project:
They probably just decided to end the project. My experience is that it has been slowly dieing for a long time. I have been heavily involved with truecrpyt and its source code for many years. I make programs to custom edit the boot screen and otherwise customise TC's appearance. My programs are not forks, rather they edit the actual binary code installed, so that users can easily use it on existing installations. What you have to understand is that truecrypt has added very little functionality for a very long time. In particular they seem to have lost the key developers who did the code in the boot sectors. For those who don't know, along time ago the program was to big to fit into the boot sectors, and a special deflate algorithm was added to decompression the boot sector code. My code to unzip the boot program and edit its string display strings is still the same code from tc 5.0, and it still works on the latest edition. The guys who code this section appear to be long gone from the project, hence absolutely nothing done over UEFI. The changes that have occured look questionable, in that the people making them seem to have very limited assembly understanding and were hacking on bits instead of properly modifing the programs flow. Secondly getting TC to work with operating systems is extremely complicated, especially for windows. It was micorosoft who eventually released the API's that were used to make truecrypt properly handle sleep/hibernate. These API's are not forthcoming to Win8 or beyond, and in all honesty - windows is the only market that matters. I am going to guess that one of the last known developers knows there is a bug that they can not longer believe they have the experience or skill to fix properly, and hence has decided to shut it down.
Source:
Slashdot.org.