Close, but it's when they IMplode. They collapse in on themselves due to their own gravity. This creates (as someone said above) some type of anit-matter that schlurps everything in even light (Y)
If you got sucked into one I think the anti-matter destroys your own. So yeah you do vanish, kind of.
All of what I've just said is theory btw, nothing about black holes has been proved yet despite claims of astrologists "spotting" them.