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iOS 17.3 Beta Adds New Stolen Device Protection Feature to iPhone
(www.macrumors.com)
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Awesome. This mitigates one of the only significant threats if your phone gets swiped when unlocked or they know your passcode.
The one hour delay on things like changing iCloud password will also make things more interesting if you are mugged and they demand you enter the passcode, disable icloud.
Yup, should stop those muggings.
Fortunately I don’t live where that kind of stuff happens so not really a big benefit.