Did you have a passcode/Touch ID set and Find My iPhone activated? If yes, then there's no way they're getting into your iPhone, nor able to reset it, period.
While the theif could put the iPhone into Airplane mode to avoid tracking, they cannot turn off Find My iPhone (i.e. activation lock) without your Apple ID password -- which means it cannot be erased. Further, without your passcode they cannot gain access to the iPhone's contents, nor change the passcode. At best, the thief can sell your locked iPhone to an unwitting fool who will have purchased a brick.
If you did not have a passcode and Find My iPhone enabled, well I'm sorry to say -- that's on you.