Cobo Wallet to Close; Dormant Assets Face Monthly Fees
Cobo will permanently close its personal Cobo Wallet App at 00:00 (UTC+8) on 1 December 2026. Users should withdraw their crypto by 30 November and update or remove Cobo Wallet deposit addresses saved with exchanges, mining pools and other services to avoid misdirected transfers. Cobo says its other business operations will continue normally.
From 1 January 2027, assets left in Cobo Wallet accounts will incur a monthly management fee of 2% of the remaining balance, with a minimum charge equivalent to US$100. Fees will be deducted in the original tokens, with the minimum calculated using CoinMarketCap prices. Accounts holding less than US$100 may be depleted by the charge. Cobo also warns users about fake support agents and withdrawal scams: it says it will not ask for passwords or charge for expedited withdrawals.
Neutral
The shutdown concerns Cobo’s personal wallet service, and the summaries identify no Cobo token or other specific cryptocurrency whose price would be directly affected. The event is therefore expected to have a neutral impact on cryptocurrency prices overall. In the short term, users may move assets out of Cobo Wallet before the deadline, but this would more likely shift holdings between wallets or platforms than create sustained buying or selling pressure. The monthly fee and risk of losing small balances could prompt withdrawals and increase attention to wallet security. Over the longer term, Cobo says its other operations will continue, so the app closure alone provides no clear signal about broader crypto-market fundamentals or price direction.