Your priority should be protecting your data and preventing unauthorized access, not immediately wiping the device. Confirm the action, and the iPhone will begin the wiping process.
Securely Erase Your Stolen iPhone to Protect Your Data
You need to act quickly to track the phone, lock it down, and notify the necessary parties. A factory reset is one of the most effective ways to ensure your personal information remains private, even if the device ends up in the wrong hands.
Use Find My to Track or Lock the Device If you have "Find My" enabled, log into iCloud. Jumping straight to a factory reset without these steps could eliminate your chance of ever recovering the phone.
Securely Erase Data from a Stolen iPhone with Find My
You can play a sound to locate it if it's nearby, or put it into Lost Mode to lock it with a passcode and display a custom message with your contact information. If there is any chance the phone is in the possession of someone else, you should immediately use the "Erase iPhone" option in the Find My app to initiate a factory reset remotely.
More About How to factory reset a stolen iphone
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