(This is in response to the rash of iphone thefts)
People like to steal iphones. Its a fact of life. For the most part they just want to sell the phone without your sim card or your data. However, if you are like me you keep a lot of stuff on your phone…a contact list of course, but more importantly you keep your email on it. Also of course a thief could use it to call their best friend far away for free. To prevent this phones have always had the feature of a passcode, which you should be using already on your iphone. At some point in the recent past apple added an even more useful feature: you can set it so that the phone erases itself after 10 incorrect passcode entries.
To enable this setting follow these steps:
Go to general settings:

Click on “Passcode Lock”

Enter a passcode you won’t forget, then set “Erase Data” to on.

Then you should be pretty much only out an iphone when it gets stolen. Still sucks, but not as bad.