Korbit Web3 Wallet Shuts Down December 31 Amid Non-Custodial Limitations

Korbit Web3 Wallet is shutting down its service approximately 18 months after launch. The exchange's operator, DigitalX, announced that new wallet creation has been halted and users must transfer their assets to a Korbit exchange account or an external wallet before December 31.

DigitalX emphasized that due to the non-custodial wallet structure, the company cannot arbitrarily withdraw or transfer user assets on their behalf. After the deadline passes, withdrawal and recovery of any remaining assets will be entirely impossible.

The service shutdown will proceed in two phases. In Phase 1, starting at noon on December 31, new Korbit Web3 Wallet creation has been halted and the 'Receive' function within the wallet has been fully deactivated. Phase 2 takes effect at noon on December 31, at which point the Web3 Wallet entry button at the top of the Korbit mobile app will be disabled, and all transfer and external wallet functions will be completely terminated.