Cobo will close its Cobo Wallet App, a consumer wallet, at 11 a.m. EST Nov. 30 (16:00 UTC), giving users a deadline to move assets and update stored receiving addresses.
Cobo’s notice sets the UTC+8 shutdown time at midnight Dec. 1. The company asks users to replace or remove Cobo receiving addresses saved on exchanges, mining pools and other platforms.
Cobo plans monthly deductions from balances left after the app closes: 2% of assets, with a $100 equivalent minimum. Cobo said it will allocate that minimum among token balances according to each token’s share of the account’s total value, with fees deducted from those balances. Users with assets remaining in the app will be subject to the charge, the company said.
Cobo plans to collect the first fee on Jan. 1, 2027, for December 2026. The company said the closure applies only to the consumer app. It stopped accepting new registrations in 2021 as it shifted its focus to institutional wallet services.
