Did your bank wire withdrawal ever go through?  No update?

Thanks cryptworld. I wasn't sure where to post the info, but I just submitted one there so people will know what they're doing. thx

I wasn't sure where to post this, so I initially posted in the general forum. Sorry for double-posting, but I think people should know about this and what's going on with 796.com

I've used several different exchanges without any problem before (kraken, bitstamp, btc-e, and one or two others)  just to try them out. I realized I had signed up for 796.com months ago, but never tried it yet. So I gave it a shot.

I transferred in $80.86 worth of bitcoin (0.125 coin) at around $646 per coin to try out their Spot trading of BTC.

I was able to sell that immediately just for a little over what I transferred it in at, so I was at about $81 now in my cash wallet.

I tried to buy back BTC, and noticed that 796.com has a bot constantly running at the top of the list, so that it is impossible for anyone to buy back their own BTC even at a loss of greater than 10%.

I decided to try and buy some litecoin and then see if it would move, but then I started looking at their volume. Did you know that they only have 2 or less bitcoins in stock, and only 12 lite coins total?! When I saw that, I decided to get out of there and simply transfer my money out at a 10% loss via international wire transfer.

When I tried to load the page for that, I repeatedly got "System error" message from them. Nice.

So I went back and tried to buy peer coin (which they had a little bit more volume of) at a loss of 3 to 5% max. Their system let me buy peer coin...

...and then this is how they stole from me, and will steal from you:

They match you with the buyer who is selling what you need...and then...the rest of your money DISAPPEARS from your cash wallet.

I bought 22 peer coins for $2.20 per coin, so $44.43 was deducted from my cash wallet.

I had $36.43 remaining left in my cash wallet that simply DISAPPEARED after that transaction.

There is nothing in the logs. Just a 0 balance for my cash wallet now, and a 22.1991 ppc balance for my peer coin ($44 worth)

So where did the remaining $36 go? It simply "disappears" into the Chinese thieves' pockets at 796.com

I immediately created a support ticket, but they won't respond at all. Not a word.

Avoid this scam exchange. They're starting to look like the next Mt. Gox. Not kidding.

So if you're looking for an exchange, as of right now, I can only recommend BTC-e, Bitstamp, or Kraken. In the past 2 years I've only had one minor issue between any of them, and they always got back to me and did resolve the small issue. Everything has been good since. But for 796.com to do this...there's just no excuse and no way they can pretend it was a "system error" when they refuse to even respond back.

Just wanted to let you guys know about 796.com before you invested serious money into it that they will take from you if you do so.

Stay safe, and best of luck investing.

J

I decided to try 796.com instead of BTC-E to see what it was like. I transferred in $80 from my bitcoin wallet, and sold .125 bitcoin on the Spot trade for just slightly over the current rate (around $646 per bitcoin).

Ok, so now I had $81 or so in my cash wallet.

I tried to buy and sell more BTC, but then I looked and saw that they had barely over 1 bitcoin as their volume. And on top of that, there's a "top-list" bot they use to outbid any attempt you make to try and buy your own bitcoin back for less than market value. It changes and readjusts the moment you try to invest, even by a few pennies. AYFKM?!

So I said screw it, I'll try to buy some lite coin. Ok, but after a day or so, no one was buying or selling litecoin on there, and they only had a volume of 12 coins. What type of exchange is this anyway??

I figured I might transfer out my money via international wire then at a loss of 10%, since they're not going to let me buy back my own bitcoin for even half the price. But there was a "system error" when I loaded the page. How convenient!

So I had finally had enough of this crap and decided to go back to BTC-e, buy PPC for slightly above market value to guarantee a sale that wasn't too much of a loss (maybe 3%) and then transfer the peercoin into BTC-e for use there.

Guess what they did?

They let me buy 22.1991 peer coin at $2.20 per coin, deducting $44.43 as was the amount.

And then they stole the remaining $36.42.

My cash wallet with $80.86 now has $0.00, and my peercoin wallet only ha 22 coins in it.
796.com steals from their customers. Avoid like the plague if you're serious about investing bitcoin, litecoin, or ppc.

I immediately wrote to their support and started a ticket, but it's been several hours now and there's been no response, so I figured I would create an account here and let you guys know what's going on with them.

I requested for them to contact me and either refund the entire transaction of ppc, or to simply put back the $36.42 they just stole out of my cash wallet so I can figure out how to get that out of there another way and back to safety.

There has been no responses to my ticket with them whatsoever.

If you're looking to invest in bitcoin, litecoin, peercoin, futures, or any other type of cryptocurrencies, DO NOT USE 796.COM. They do not bother to respond, they are apparently a foreign scam exchange, and they will not bother to respond after they've ripped you off and stolen from you.

Besides Mt.Gox, 796.com looks like the next big thief. Only this time, they're in China.

I've never had these issues with BTC-e, Kraken, or Bitstamp.

I think I'm going to stick with them instead of the Chinese thieves that just robbed me. 

You've been warned. Stay safe.

J