TL;DR:
- Cobo Wallet will cease operations on December 1, 2026, due to a strategic adjustment in its business model.
- Users have until November 30 to withdraw their assets and update any deposit addresses linked to the application.
- Starting in January 2027, accounts with forgotten balances will face a 2% monthly fee, with a minimum charge of $100.
- B2B services, such as institutional custody and “Wallet-as-a-Service”, will continue operating normally.
Digital asset services company Cobo announced this Friday, October 16, that its consumer-oriented wallet—Cobo Wallet—will shut down permanently. According to the official statement, the application will permanently cease to function on December 1, 2026, exactly at 00:00:00 UTC+8 as part of an operational redesign in its business lines.
Users who still hold cryptocurrencies in the application have a strict deadline of November 30, 2026, to withdraw all their funds. The company has also emphasized the importance of immediately updating any deposit address pointing to Cobo Wallet, including those configured for mining pool payouts or saved on exchanges for recurring withdrawals, thus preventing new funds from flowing into a platform that is about to shut down.
Fees and penalties for remaining accounts
Cobo has established strict measures regarding what will happen to assets that are not transferred on time. Following the closure, the company will apply a 2% monthly account management fee on the remaining balance, which will begin to be deducted directly from the tokens starting January 1, 2027.
The most critical aspect of this measure is that there will be a minimum charge equivalent to $100 per month. In practical terms, any wallet containing a balance of less than $100 will be completely emptied during the first billing cycle. For accounts with values exceeding $5,000, the 2% percentage will dictate the fee.
A purely operational move
Interestingly, this announcement comes just two days after Cobo celebrated its ninth anniversary in the industry. The decision to close the retail-oriented application underscores a more institutional focus by the company, recalling that earlier this year they launched their “Agentic Wallet” product.
The company strongly clarified that this closure affects solely and exclusively the consumer application. The rest of its business ecosystem, which includes institutional custody services and its successful Wallet-as-a-Service model, will not suffer any interruption and will continue operating under the same infrastructure.
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