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Wow that sucks man. I wonder if there's anyway to track it like serial number or stuff like that. About them finding stuff about you though, I don't think that's really a big issue, because a lot of stuff requires your apple id and password, and you could always change your email password right now so if they try to view your emails it would prompt them for a new password. Basically though, I think everything on that device right now is sort of locked on that device, and if they want to use it as their own device with their own Apple id they'll want to reset and wipe it clean in order to do that. It's not like you're the president of the united states so they don't really care, they'll just wipe it.
 
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Mobile/8C148)

The passcode on iOS is trivial to bypass by anyone that knows what they are doing. For example, just hook up the iPhone to a pc with something like iPhone Explorer that is freely available. iOS doesn't encrypt your data so once you lose your phone physically, you are royally screwed. Even using the Find My Phone feature from Apple to try to wipe the phone won't do any good if the phone was turned off or the phone part disabled.

Better start changing your passwords. For everyone else, never store anything sensitive unencrypted on an iPhone.
 
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