Cobo to shut down Cobo Wallet app on December 1

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. The deadline and the fee that follows it 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 t...