If your phone is stolen, the rogue may gain access to your contacts, messages, and social media accounts. This could lead to phishing attacks or impersonation scams targeting your friends and family.
For example, whoever stole it could use your accounts to send messages asking for money or personal information. Another common tactic is to send links to fraudulent websites. Although this is usually done by hackers who steal your accounts from afar, it could still happen if someone physically takes it. Once you’ve confirmed your phone is stolen, let your friends and family know.