can a locked ipad be jailbroken

I recently had my Ipad stolen in the airport. It was in airplane mode at the time and password protected. I am unsure if I should remotely erase all data on my Ipad, as I am hoping the person has a moment of clarity and will return it to the airport where I have reported it stolen and it will be returned to me. Or that somehow they get the wi-fi to work and I can track it using the Find my Iphone app. In the meantime, I am wondering if the person could jailbrake it somehow while it is locked and have it unlock and gain entry to my personal data. What do you suggest? If they try to gain entry by trying the password 10 times and erasing all the data will that give them access to use the ipad as theirs?