Cobo Wallet App announces it will shut down services on December 1, users need to transfer assets in advance.

BlockBeats news, October 16 - Cobo Wallet has announced that its App service will officially shut down on December 1, 2026. Users must complete the transfer of all assets and update the Cobo Wallet receiving addresses previously set on other platforms by 23:59 on November 30.

The announcement warns that users who fail to transfer assets within the deadline will incur account management fees. This adjustment will directly affect users who still use the Cobo Wallet App for asset storage and receiving payments, and relevant users need to promptly confirm on-chain assets, receiving addresses, and withdrawal whitelist settings on associated platforms.

After the App service is shut down, if there are remaining assets in the account, Cobo will charge a monthly account management fee. The management fee is calculated in coin terms, at 2% of the remaining assets in the account, with a minimum monthly charge equivalent to $100. Failure to complete asset transfer before the App shutdown will be deemed as the user's agreement to this fee arrangement.

The announcement states that this adjustment is due to a business strategy shift, and it has not yet disclosed whether other products or institutional businesses under Cobo will be affected.