Am I able to remove a device from trusted devices and still track it?

Hi,

A few weeks ago I lost my iPhone 6 and put it in Lost Mode.

Today it pinged a new location and now I know it's stolen.

Are they able to receive Apple ID verification codes with it?

I want to take it off of my trusted devices, but I still want to track it. If I do that, would I not be able to track it anymore?

Thank you