Join us for the story of the origins and history of the Open Crypto Audit Project (OCAP). OCAP is a community-driven global initiative which grew out of the first comprehensive public audit and cryptanalysis of the widely used encryption software TrueCrypt®. Our charter is to provide technical assistance to free and open source software projects in the public interest. We serve primarily as a coordinator for volunteers and as a funding mechanism for technical experts in security, software engineering, and cryptography. We conduct analysis and research on FOSS and other widely software, and provide highly specialized technical assistance, analysis and research on free and open source software. This talk will present how we audited TrueCrypt, detailing both the Phase I security assessment, and the Phase II cryptanalysis. Looking forward, in light of GotoFail and HeartBleed, we will discuss future plans for our next audit projects of other open source critical infrastructure.