Cobo Wallet App to Shut Down Dec 1, 2026, With 2% Monthly Fee on Leftover Assets

The 2% monthly management fee with a $100 floor is the real signal: it is punitive enough to function as a forced-migration tool rather than a cost-recovery measure, and it turns a product sunset into a fee on inertia. The structure also creates a perverse tail — small residual balances get wiped out entirely, so the users most likely to be hurt are those with the least at stake and the least reason to be monitoring a wallet they have stopped using. The decisive question is whether Cobo gives clear, repeated, multi-channel withdrawal warnings before the deadline, since the fee only becomes a reputational issue if users can credibly claim they never saw it coming.