Cobo Wallet Sets Dec. 1 Shutdown and $100 Monthly Fee

Cobo will permanently shut down its consumer wallet application on Dec. 1, 2026, requiring users to withdraw all stored balances beforehand or face recurring account management charges starting at $100 per month, according to CryptoNews.

The company published a shutdown notice dated Oct. 15, setting the final closure deadline for midnight UTC+8 on Dec. 1. Users must complete their asset transfers by 16:00 UTC on Nov. 30, which corresponds to 11 a.m. Eastern Standard Time and 8 a.m. Pacific Standard Time. Cobo specifically instructed users to delete or replace Cobo Wallet receiving addresses saved across external exchanges and mining pools to prevent erroneous transfers after the deadline.

Monthly Charges and Minimum Balance Penalties

Accounts that retain assets following the app's closure will incur an ongoing monthly management charge equal to 2% of total remaining holdings, with a mandatory minimum fee equivalent to $100. Deductions will occur at midnight UTC+8 on the first day of each calendar month, beginning on Jan. 1, 2027, to cover the December 2026 holding period.

Cobo stated that fee deductions will be assessed in the native cryptocurrency being held, without converting between digital assets. To establish whether balances meet the $100 threshold, the company will reference CoinMarketCap prices at the exact time of collection. If an account holds less than the $100 minimum threshold, the platform will deduct the entire remaining balance immediately, wiping the account out in a single collection.

Institutional Focus

Cobo clarified that the shutdown applies exclusively to its legacy consumer wallet app, which halted new user registrations in 2021. Since that time, the company has redirected its core operations toward institutional custody, payments infrastructure, and staking services.

Key facts

• Cobo will close its consumer wallet app on Dec. 1, 2026, at midnight UTC+8 (16:00 UTC on Nov. 30).
• Balances left in the app face monthly management fees of 2% or a minimum charge of $100.
• First monthly fee deduction will take place on Jan. 1, 2027.
• Accounts holding less than $100 in total value will have all remaining assets deducted at once.
• The closure does not affect Cobo's institutional wallet services.