Cobo Wallet to Close Dec. 1; Withdraw Assets by Nov. 30
Cobo Wallet will permanently close at midnight on Dec. 1, 2026 (UTC+8). Users must withdraw their crypto by Nov. 30 and update or delete Cobo Wallet receiving addresses saved with exchanges, mining pools and other services. The shutdown affects only the consumer app; Cobo’s institutional wallet services and other operations will continue normally.
Balances left in Cobo Wallet after closure will incur a 2% monthly management fee, with a $100 minimum. The first deduction is scheduled for Jan. 1, 2027, covering December, and fees will continue until assets are withdrawn or depleted. Accounts worth less than $100 could lose their entire remaining balance. Cobo also warns users about fake support agents and withdrawal scams: it says it will not ask for passwords or charge for expedited withdrawals. The Cobo Wallet shutdown is a user-level custody issue and is unlikely to materially affect broader crypto prices.
Neutral
The shutdown is limited to Cobo’s consumer wallet and does not affect its institutional wallet services or broader operations. Neither summary identifies a specific cryptocurrency whose price is directly affected, and no market-wide supply, demand or network change is indicated. In the short term, users may move assets to other wallets before the deadline, but this is a custody migration rather than clear directional trading pressure. Over the longer term, the closure and management fees could affect user confidence in the service, while the scam warning may heighten caution. These effects are specific to Cobo Wallet and are not expected to materially alter broader crypto market stability or prices.