Cobo Wallet users are being asked to move their assets and replace receiving addresses saved on exchanges or mining pools. The closure does not cover the company’s institutional wallet services.
Cobo will discontinue its consumer Cobo Wallet app on December 1, 2026, at 00:00 UTC+8. Its shutdown notice asks users to withdraw all assets before that time. Balances left in the app will incur a monthly account management charge of 2%, subject to a minimum equivalent to $100.
Following the notice signed October 15, a separate clarification dated October 17 says the closure applies only to the consumer app, which stopped accepting new registrations in 2021. The company says it has focused on institutional wallets since then. Its institutional services are outside the scope of this shutdown.
The 2% rate does not cap the cost for small accounts
Cobo will calculate the charge using the quantity of each cryptocurrency held when collection takes place and deduct it in that same asset. If the combined 2% charge is worth less than $100, the minimum applies instead. For accounts holding several assets, the deduction will be allocated according to each asset’s share of the account’s value. Dollar valuations will use CoinMarketCap prices at collection time.
In Cobo’s example, an account containing only 1,000 USDT would generate a percentage-based charge of 20 USDT. The minimum raises the actual deduction to 100 USDT. Another example shows an entire 60 USDT balance being deducted.
Each calendar month’s fee will be collected at 00:00 UTC+8 on the first day of the following month. The first deduction, on January 1, 2027, will cover December 2026. Cobo says charges will continue until the assets have been withdrawn or fully deducted. The notice does not explain which interface will accept withdrawal requests after the closure or how long that option will remain available.
Saved receiving addresses also need attention
Cobo asks users to replace or remove Cobo Wallet receiving addresses saved on exchanges, mining pools or other platforms. The aim is to prevent later payments from reaching those old addresses. When choosing a replacement wallet, users should check network support and recovery options as well as the asset name.
The company’s security warning tells users to withdraw only through the official app and to obtain it from the app-store links in the notice. Cobo says it will never send direct messages or ask for a password, seed phrase or private key. It also warns against requests to install another app to move assets.
Check the time zone: Midnight on December 1 in UTC+8 is 16:00 UTC on November 30. The deadline does not extend to the end of November 30 in every time zone.
The notice lists walletservice@cobo.com for questions about the closure. Cobo directs users to verified channels to avoid phishing attempts that impersonate customer support.
