Digital asset custody provider Cobo said on October 16, 2026, that its Cobo Wallet app will permanently stop operating on December 1 at 00:00 UTC+8. Crypto left in the app after November 30 will face a 2% monthly fee with a $100 minimum.
The Brief
- Cobo will close its consumer Cobo Wallet app on December 1, 2026, citing a strategic business adjustment.
- Users have until 23:59 UTC+8 on November 30 to withdraw every asset they still hold in the app.
- Leftover balances face a 2% monthly fee with a $100 floor, and accounts under $100 lose everything left.
- Cobo’s institutional custody and Wallet-as-a-Service businesses are unaffected and will keep running as normal, the company said.
The fee wipes out small balances first
Cobo will calculate the charge against the original tokens and deduct it from the coins themselves. No cash bill is involved. Any account worth less than $100 loses its entire remaining balance, so a wallet holding $60 in tokens would be emptied by the first deduction.
The $100 floor sets the charge on any balance worth up to $5,000, and the percentage only bites above that level. Cobo will take the first fee on January 1, 2027, a month after the app closes. Charges then repeat until the assets are withdrawn or depleted, according to WuBlockchain.
Cobo Wallet, One of the Early Crypto Wallet Apps Launched by F2Pool Co-Founder, to Shut Down Digital asset custody provider Cobo announced that its Cobo Wallet App will shut down on December 1 as part of a strategic business adjustment. Users must withdraw all assets by November 30 at 11:59 PM (UTC+8). Any remaining assets will incur a monthly management fee of 2%, with a minimum charge of $100. Accounts holding less than $100 will have their entire remaining balance deducted. The first fee will be charged on January 1, 2027, and fees will continue until all assets are withdrawn or depleted. Cobo emphasized that its other businesses will remain unaffected and continue operating normally.
— Wu Blockchain (@WuBlockchain) October 16, 2026
Withdrawing the balance is only half the job. Cobo Wallet handled storage and payments across exchanges, mining pools and other platforms. Cobo is asking users to update every deposit address that still points to the app. Its guidance comes down to four tasks:
- Move all assets out before the November 30 cutoff.
- Replace Cobo Wallet payout addresses on mining pools.
- Swap out Cobo Wallet withdrawal addresses saved on exchanges.
- Check any other service that sends payments to the app.
Checking each new address in full also helps reduce the risk of address poisoning scams, which rely on look-alike wallet strings.
The closure follows a September cut to the app’s yield products
Cobo started taking the app apart weeks ago. A September 8 notice ended Cobo Wallet’s Wealth Products, including Flexi Term, ETH 2.0 and Fixed Term, with redemptions due September 21. That notice sent redeemed principal and earnings back into Cobo Wallet balances, the same balances users now have to pull out.
The company, started in 2017 by F2Pool co-founder Discus Fish and Changhao Jiang, marked its ninth anniversary on October 14. Earlier this year it launched Cobo Agentic Wallet, a wallet product built for AI agents.
What’s Next?
Cobo has not said how many people still hold funds in the app. It also hasn’t said what happens to deposits that land after the shutdown.
This reads as Cobo stepping back from retail users to focus on institutional custody and newer products like its agentic wallet. For holders, the clock is already set. Withdrawals close at 23:59 UTC+8 on November 30, the app goes offline at midnight, and the first deduction posts on January 1, 2027.
