It is officially been declared that TrueCrypt, one of the most popular encryption and portable drive software, has been compromised and it's no more been considered as secure. No more development or security fix is planned for the product and now its been abandoned by the developer.
The official site now recommends to go for bit locker or other security mechanisms to protect data.
Currently all my personal data resides in TrueCrypt drives and I am big fan of it’s portability and simplicity of creating and maintaining drives seamlessly. Have to find out an alternative , but finding it and getting used to the new alternative would be a tough job