Cobo has announced the closure of its consumer-facing wallet application, effective December 1, 2026. The company cited a strategic business adjustment as the reason for this decision. While the consumer app is shutting down, Cobo confirmed that its institutional custody and Wallet-as-a-Service business lines will continue to operate as usual.
Users are required to withdraw all assets from the platform by November 30, 2026, at 23:59 UTC+8. Failure to do so will result in a monthly management fee of 2% on remaining balances, starting January 1, 2027. This fee is deducted directly from the user's original tokens rather than being billed in cash.
The fee structure includes a minimum charge of $100 per month. This minimum applies to any balance worth up to $5,000, while balances exceeding this amount are subject to the 2% rate. Small accounts with balances below the $100 threshold will be fully depleted by the first billing cycle.
The company advises users to update all deposit addresses previously linked to the Cobo Wallet, including those used for mining pools and exchange withdrawals. This step is intended to prevent new funds from being directed to the discontinued application after the shutdown date.
