Users have until November 30 to withdraw their assets before a 2% monthly management fee kicks in
Cobo is pulling the plug on its consumer wallet. The Cobo Wallet app will permanently stop operating on December 1, 2026, at 00:00:00 UTC+8.
Users who still keep crypto in the app have a firm deadline: withdraw everything by November 30, 2026, at 23:59 UTC+8. Anyone who misses it will start paying to leave their coins behind.
The company announced the closure on October 16, 2026. It cited a strategic business adjustment.
After the November 30 cutoff, Cobo will charge a monthly account management fee of 2% on whatever assets remain in the app. The fee is calculated against the original tokens. So it comes out of your coins directly, rather than being billed in cash.
There is also a floor. Cobo will charge a minimum of $100 equivalent per month. If a user’s remaining balance is worth less than that, the company will deduct the full amount.
Put plainly, small forgotten balances will not survive the first billing cycle. A wallet holding $60 worth of tokens would simply be emptied.
The math gets interesting for larger accounts. At 2% a month, the $100 minimum applies to any balance worth up to $5,000 equivalent. Above that level, the percentage takes over.
The first fee will be applied starting January 1, 2027. That gives stragglers about a month between the shutdown and the first charge, though the stated withdrawal deadline remains November 30.
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The announcement mainly affects people who used the app for storing assets and handling payments across exchanges, mining pools, and other platforms.
Cobo is advising users to update any deposit addresses that previously pointed to Cobo Wallet. That includes payout addresses on mining pools and withdrawal addresses saved on exchanges.
Moving existing funds is only half the job. Users also need to make sure nothing new keeps flowing toward an app that is about to go dark.
Cobo was clear that the shutdown is limited to the consumer app. Its other business lines, including institutional custody and Wallet-as-a-Service, will continue operating as normal.
The timing carries a touch of irony. Cobo celebrated its ninth anniversary on October 14, 2026, just two days before announcing that its consumer wallet would close.
Earlier in 2026, it launched an Agentic Wallet, a product aimed at a newer category of wallet tooling.
Coverage from crypto-focused outlets has framed the closure as an operational shift rather than a sign of deeper trouble at the company. Cobo has not released figures on how many people still use the app.
For individual users, the priority is straightforward. Withdraw assets before November 30 and update every deposit address tied to Cobo Wallet.
The fee structure is the part that should get people moving. A 2% monthly charge with a $100 floor effectively wipes out small balances in a single month.