Cobo Wallet shutdown: withdraw by 1 Dec, then a 2% fee

The Cobo Wallet consumer app shuts down on 1 December 2026 at 00:00 (UTC+8), which is 30 November at 17:00 Dutch time. Whatever is still in your account will be charged 2% a month, with a minimum of $100. The first charge follows on 1 January 2027, according to the Cobo Support notice of 15 October 2026. That leaves you about four weeks to move your crypto to a wallet you control yourself.

Cobo Wallet shutdown in short

• Who is affected: users of the Cobo Wallet consumer app. The app has been closed to new sign-ups since 2021, so this concerns existing accounts. Cobo does not say how many there are.
• End date: 1 December 2026, 00:00 (UTC+8). In Dutch time that is 30 November, 17:00.
• What to do: withdraw all your balances before then, and replace Cobo Wallet receiving addresses on exchanges, mining pools and other platforms.
• What it costs if you wait: 2% a month of what is left, with a minimum of the equivalent of $100. According to Cobo, anyone who does nothing is deemed to accept these terms.
• First charge: 1 January 2027, for December 2026. After that, on the first of every month.
• Why: since closing sign-ups in 2021, Cobo has focused on its business wallets for institutions. The notice gives no other reason.
• Drawback: the fee is deducted in the tokens themselves, with no conversion. With a small balance, the $100 minimum weighs more heavily than the 2%.

The dates at a glance

Cobo uses UTC+8, the time zone of Singapore and Hong Kong, among others. Converted, 00:00 UTC+8 equals 16:00 UTC, and so 17:00 in Dutch winter time (CET).

Do not count on the last minute: a withdrawal over a network with long confirmation times can take hours. That is a precaution of our own, not something Cobo writes.

What the fee costs: Cobo's examples and a calculation of our own

The fee is 2% of what is in your account after the end date, with a floor of $100 a month. Cobo calculates the dollar value using CoinMarketCap prices at the time of the charge. The fee is deducted from your balance token by token, in proportion to each token's share of the total value.

Cobo gives three examples itself:

From this follows a calculation of our own, which does not come from Cobo: at a balance of $5,000, 2% is exactly $100. Below that you pay more than 2%. At $2,000, $100 is already 5% a month, at $1,000 it is 10%. Above $5,000 it is 2%. Over a year, 2% a month costs about 21.5% of your balance (0.98 to the power of twelve is 0.785), because the fee is calculated each month on a smaller balance. The exact amount depends on prices and balance, and with a balance under $5,000 the minimum applies.

A balance under $100 disappears in one go. Cobo writes that the fee continues until all the funds have been withdrawn or fully charged. So there is no "safe" small remainder: whatever you leave behind is gone after the end date or shrinks every month.

How to get your crypto out

Cobo asks for two things, and a third is simply common sense.

First withdraw, in the official app. Cobo writes that you should only withdraw through the official app, and only download or update it through the two links in the notice: the App Store (id1406282615) and Google Play (cobo.wallet). Do not look for the app through a search engine or a link in a message.

Then replace your receiving addresses. Have you set a Cobo Wallet address as a withdrawal or receiving address at an exchange, a mining pool or another platform? Replace or remove it. Otherwise a later payout, from a pool for example, could still go to an address that is no longer operated. Cobo itself lists this as the first action point.

Test with a small amount. First send a small amount to your new address and check that it arrives, then the rest. This is a general precaution, not an instruction from Cobo. Also check which network you are sending on: with USDT, for example, versions exist on several networks, and an address on one does not work for another.

Where you send your crypto is your choice. If you want to hold the keys yourself, see our guide to choosing a wallet, and for hardware there is an offer on Blockstream Jade discount code. If you would rather sell, you can do so through an exchange; but do take your country's tax into account.

Beware of scams around the shutdown

An announcement that a service is closing is the moment scammers strike. Cobo warns about this itself. The company writes that it never contacts you directly, never asks for your password, seed phrase or private key, and never asks you to install another app to "migrate" your funds. It names only the website www.cobo.com and the official Cobo Support email address as official channels.

In practice, that means:

• A message saying you must enter your seed phrase to "migrate" is a scam.
• An email or in-app message with a link to any app other than the two official ones is suspicious.
• Anyone who poses as support and contacts you is not Cobo.

More on checks like this is in our crypto security checklist.

What does this mean for you as a European investor?

Cobo writes nothing country-specific. The notice applies to all users of the app, and the end date is the same everywhere. What differs from country to country is what withdrawing or selling means for tax. We cannot work that out with sources for every country here; the overview page crypto tax in Europe is there for that.

Withdrawing to your own wallet is a move of your own funds. Whether that counts as a taxable event in your country depends on national rules; do not count on an exemption without a source.

Selling on an exchange is a taxable event in many countries. In that case, compare costs first, for example on our comparison page.

Next steps at an exchange. If you want to send funds you kept with Cobo to a European exchange, check whether that provider is in the MiCA register. You can do that on our MiCA authorisations page.

What is not certain yet

• Number of users and balances: Cobo gives no figures.
• Date of the notice: under the notice it says "Cobo Support, October 15, 2026", but the page itself shows the date 17 October 2026. We use 15 October, the date Cobo puts under the text, and mention the difference here.
• Reason for the shutdown: not given, other than that Cobo is focusing on institutions.
• What happens to a small remainder after the first charge: Cobo writes that the fee continues until the funds are withdrawn or fully charged. It says nothing more about what happens to the account afterwards.
• Price source: the dollar value comes from CoinMarketCap at the time of the charge; you cannot know in advance exactly which price will apply.
• Our source: we have only opened Cobo's own notice. There is no second, independent source for the facts; the notice is on Cobo's own website.

This article is not investment advice. Crypto can lose a lot of value and you can lose your entire investment.

Frequently asked questions

When does the Cobo Wallet app shut down?

On 1 December 2026 at 00:00 (UTC+8), which is 30 November at 17:00 Dutch time. Get your funds out before then.

What does it cost if I leave my crypto in Cobo Wallet?

2% a month of your balance, with a minimum of the equivalent of $100. The first charge is on 1 January 2027 and covers December 2026. With a balance under $100, everything is charged in one go.

Can I still withdraw my crypto after 1 December?

Cobo says the app stops providing its service on 1 December and that you must withdraw everything before then. Whether there is any way to do so afterwards, Cobo does not say. So do not count on it.

Do I need to change my address at an exchange or mining pool?

Yes, if you have set a Cobo Wallet address as a receiving address. Cobo asks you to replace or remove the address, so that nothing is sent to it any more.

How do I spot scams around the shutdown?

Cobo says it never contacts you directly and never asks for your password, seed phrase or private key. Only use the official app via the links in the notice on www.cobo.com.

Sources

Read on 4 November 2026.

• Cobo Wallet App (Consumer Wallet) Shutdown Notice, Cobo Support, 15 October 2026 (the page shows 17 October 2026 as its date; primary source for all dates, amounts and examples)