At a glance

  • Cobo will stop running its consumer Cobo Wallet app at 00:00 UTC+8 on 1 December 2026, which is 16:00 UTC (17:00 CET) on 30 November, the company said in a shutdown notice. Users must withdraw everything before then.
  • Assets left in the app will be charged a monthly account management fee of 2% of the remaining balance, with a minimum of $100 a month, starting on 1 January 2027.

Cobo, a digital-asset custody and wallet company, will shut its consumer wallet app on 1 December and charge a monthly fee on any assets still inside it, according to a notice signed by Cobo Support on 15 October.

The app stopped taking new registrations in 2021, the notice says, and Cobo has focused on its institutional wallet business since then. A clarification published on Saturday said the shutdown applies only to the consumer Cobo Wallet app.

What users must do

Cobo asks users to withdraw all assets before the cutoff. It also tells anyone who has saved a Cobo Wallet address as a receiving address on an exchange, mining pool or other platform to replace or remove it, so that funds are not sent there by mistake.

The fee is taken in the tokens themselves, without conversion, on the first day of each month at 00:00 UTC+8, the notice says. The first charge, on 1 January 2027 (16:00 UTC on 31 December), covers December. If 2% comes to less than $100, Cobo takes $100, split across tokens by value at CoinMarketCap prices. Balances worth less than $100 are deducted in full.

Cobo’s own examples spell it out. An account holding 1,000 USDT would lose 100 USDT in the first month, because 2% falls below the minimum. An account holding 60 USDT would lose all of it. The Chinese-language notice sets out the same terms, and says users who do not withdraw in time are deemed to have agreed to them.

Phishing warning

The company warns of impersonators. It says withdrawals should be made only through the official app, downloaded from its App Store or Google Play listing, and that Cobo will never send direct messages, ask for a password, recovery phrase or private key, or ask users to install another app to “migrate” assets. Earlier this month COLDCARD’s own X account posted a phishing link, as CryptoWatchDesk reported in its COLDCARD phishing warning.

The notice gives no figure for active users or assets still held in the app. It follows Binance’s Binance Pool closure, set for 10 November and announced on 13 October. For how custody arrangements differ from self-held wallets, see what a crypto custodian does.

The app keeps working until 00:00 UTC+8 on 1 December.

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This article is for information only and is not investment advice.