Several weeks ago, Joanna Stern from the Wall Street Journal reported that an increasing number of iPhone thieves have been stealing their devices from restaurants and bars and that one criminal was earning up to $300,000.
During these attacks, it was common for thieves to observe their victims entering their passcodes before stealing their devices, changing their Apple ID passwords, and disabling Find My iPhone so that they could not be tracked or wiped remotely. With the help of this Keychain password manager, a thief can easily lock victims out of accounts (such as Venmo, CashApp, other banking apps, etc.) by using their passwords.
However, Stolen Device Protection helps protect users against this vulnerability in two main ways. Users must use Face ID or Touch ID authentication (with no fallback for the passcode) to change important security settings such as Apple ID passwords or device passcodes when the feature is enabled. In addition to this, it also introduces a one-hour security delay before users can adjust any of these security settings.
Essentially, this is intended to give victims enough time to mark their iPhones as lost before a thief can change them crucially. With the release of iOS 17.3 last week, Apple made sure that it included much anticipated features such as Collaborative Apple Music Playlists and AirPlay hotel integration.