Cobo announced on October 16 2026 that its consumer-facing Wallet App will cease service at 00:00 UTC+8 on December 1 2026. Users must complete all asset withdrawals by 23:59 UTC+8 on November 30 2026 to avoid the automated fee schedule that begins the following month.
Cobo Wallet Shutdown Timeline and Required Steps
The company set a clear cutoff for the personal app. Anyone holding assets after the November 30 deadline will face a monthly account management fee of 2 percent of the remaining balance, charged in the original tokens. The minimum monthly charge equals USD 100. Balances below that threshold are deducted in full on the first billing date.
Users must also update or remove any deposit addresses linked to the Cobo Wallet on exchanges, mining pools, or other services. Failure to do so risks permanent loss of incoming transfers once the app stops processing transactions. The first fee deduction is scheduled for January 1 2027 and applies to December 2026 activity.
Cobo stated that staff will never request seed phrases, private keys, or offer paid withdrawal services. Official communications come only through cobo.com and walletservice@cobo.com. The announcement emphasized that users who leave assets in place after the deadline are deemed to have accepted the fee terms.
Company Background and Focus on Institutional Services
Cobo was founded in 2017 and is headquartered in Singapore. Its co-founders are Discus Fish (Shixing Mao) and Dr. Changhao Jiang. The firm closed new consumer app registrations in 2021 and has since concentrated on institutional custody, MPC wallets, smart-contract solutions, and exchange infrastructure delivered through Cobo Portal.
The platform supports more than 80 blockchains and 3,000 tokens. It maintains SOC 2 Type II and ISO 27001 certifications and reports a zero-breach record. The current shutdown is described as a strategic business adjustment that leaves institutional custody, Cobo Portal, and related services unchanged.
Singapore crypto custody providers have seen increasing regulatory clarity in recent years. Cobo’s decision aligns with a broader pattern of wallet operators separating retail and institutional product lines as compliance requirements differ sharply between the two segments.
Practical Consequences for Asset Holders
Users who have not yet migrated should begin the process immediately. Withdrawals must occur through the official app before the November 30 cutoff to avoid both the 2 percent monthly fee and the USD 100 minimum. Those who miss the date face repeated deductions that could exhaust smaller balances within the first billing cycle.
Exchanges and service providers that previously accepted Cobo Wallet addresses should be contacted to generate replacement deposit details. This step prevents transactions from being sent to addresses that will no longer be monitored after December 1 2026.
No additional official guidance on the consumer app has been released since the October 16 announcement. Institutional clients using Cobo Portal or other custody products continue to receive uninterrupted service under existing agreements.
Frequently asked questions
What happens if assets remain in Cobo Wallet after November 30 2026?
A 2 percent monthly fee applies from January 2027, with a USD 100 minimum per month. Balances below that amount are deducted in full on the first billing date.
How do I avoid losing funds during the Cobo Wallet shutdown?
Withdraw all assets through the official app before 23:59 UTC+8 on November 30 2026 and update any linked deposit addresses on external platforms.
Does the shutdown affect Cobo Portal or institutional services?
No. Institutional custody, MPC wallets, and Cobo Portal continue to operate normally. Only the consumer Wallet App is closing.
Will Cobo staff ever ask for my private keys during the migration?
The company has stated that legitimate staff never request seed phrases or private keys and will not offer paid expedited withdrawals.
By YasTech Editorial
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