Cobo Wallet shutting down December 1; users must withdraw assets by November 30 or face 2% monthly management fees on remaining balances.
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Cobo, a digital asset custody provider, announced that its Cobo Wallet App will cease operations on December 1. The shutdown is described as part of a strategic business adjustment. Users have until November 30 at 11:59 PM UTC+8 to withdraw all holdings.
Assets left in accounts after the deadline will face a 2% monthly management fee, with a $100 minimum charge applied per billing cycle. For balances under $100, the entire remaining amount will be deducted instead. Fee collection begins January 1, 2027, and continues until all assets are either withdrawn or fully consumed by charges.
Cobo stated that its other business operations will continue unaffected by the wallet shutdown. The specific reason for the closure beyond "strategic business adjustment" has not been detailed.