Digital X Kills Covit Web3 Wallet Service Ahead of December 31 Deadline

Digital X, the operator of Covit, a domestic virtual asset exchange, will stop offering its non-table personal wallet service, Covit Web3 Wallet. As of December 31, users must transfer their holdings to an exchange account or external wallet before the deadline.

The company announced that it would suspend creating new wallets at noon on the 31st and deactivate the 'receiving' function in the wallet. The final stage will be applied at noon on December 31, when the 'Web3 Wallet' entry button itself at the top of the Covit mobile application will be deactivated.

Digital X supports two types of asset transfer procedures before the deadline: transferring directly to a COBIT exchange account or sending assets to an external wallet address. However, users must follow specific instructions depending on the network and asset type.