No. The common theory is that TrueCrypt was compromised by a three letter agency and the creator was not content to let people use compromised encryption. So he ended the product and could plausibly tell everyone that the software was no longer secure, since it wasn't receiving updates.

We now know that the FBI/CIA/etc have broad authority to do things like:

* Install back doors into any software present in America.

* Summarily search and collect any data on any US server.

* Prevent the vendors speaking about any of it.

This case is a little murkier because TrueCrypt was open source. The common retort is: "clearly anyone would see if it were compromised." Unfortunately there aren't a lot of people in the world capable of understanding the maths involved in complicated encryption algorithms. Especially not as they relate to novel implementations TrueCrypt was using, like the lauded hidden OS feature. It is equally likely that some agency were able to break the encryption using some kind of exploit, and compelled TrueCrypt to never change their algorithm. Or perhaps the download websites were being actively monitored for downloads, and those IPs were being heavily scrutinised and cross-referenced.

It's also possibly none of these. I found an old Reddit thread with some interesting details (link dead): https://www.reddit.com/r/techsnap/comments/4cgked/paul_le_ro...

One could write an exciting mini-series over this.

The successor is generally considered VeraCrypt, though it is not clear how secure it is: https://www.veracrypt.fr/code/VeraCrypt/