1inch urges cardholders to withdraw funds by Dec 18, six-year redemption window offered

Program closure and withdrawal window

The company stated that it has stopped accepting new signups for the 1inch Card. Existing cards and accounts will continue functioning for the time being, but users are strongly encouraged to move their balances as soon as possible.

Section 16 of the issuer’s card terms outlines that e-wallet funds remain redeemable for up to six years following account closure. According to the company’s FAQs, if a cardholder does not withdraw their funds by December 18, 2026, they can still make a claim directly with Crypto Life or the card issuer.

Section 16 of the card issuer’s terms ensures users can claim their funds for six years after account closure, with processes managed by third parties.

However, 1inch has stressed that these withdrawal processes are controlled by external parties, which may change their policies, timelines, or terms. The company noted that it does not have the ability to oversee or confirm these third-party processes.

Roles of Crypto Life and issuer

The final shutdown date for card functions is determined by Crypto Life and the card issuer. While December 18, 2026, is the last date recommended for withdrawals, 1inch cannot guarantee when the card will be fully deactivated, since external providers set the timeline.

Card accounts are managed by Crypto Life, with funds held by Baanx Ltd for the UK and Frozen Time UNIPESSOAL LDA for the EU. In Europe, Crypto Life represents Frozen Time UNIPESSOAL LDA, while in the UK, it is represented by Baanx Group Ltd. Crypto Life is responsible for elements such as account closure, card status, know-your-customer (KYC) procedures, and personal data requests. These can be handled by email or in-app chat.

1inch has asked users to share details of any unanswered requests sent to Crypto Life, including the nature and timing of the inquiry. 1inch clarified that it cannot process account-level requests itself but will document and escalate cases to Crypto Life when necessary.

The 1inch Card debuted in April 2024 as a collaborative effort with Mastercard and Crypto Life, a Baanx-linked card provider. The card specialized in converting cryptocurrencies to fiat for purchases and was accepted at merchants, online stores, ATMs in the Mastercard network, and integrated with Apple Pay and Google Pay.

Mini dictionary: Baanx Ltd, a UK-based fintech company, provides crypto payment solutions and white-label card services, facilitating the issuance and management of cryptocurrency-linked debit cards for various companies.

Crypto card market trends and data privacy concerns

According to Cryptopolitan, the crypto card sector recorded a 33% surge in volume during the third quarter of 2026, reaching $4.31 billion, compared to $3.24 billion in the previous quarter.

USDC-based card payments in September 2026 exceeded $439 million, more than three times the transaction value recorded for USDT payments in the same period. Card programs in the cryptocurrency sector have also faced scrutiny over user data security.

On October 5, the Based Visa Card program experienced a hack that exposed user KYC data, including passport numbers and addresses. The incident prompted Based to notify Singapore’s data regulator and file a police report.