https://wccftech.com/lost-airtag-found-by-someone-is-locked-forever-and-cannot-be-reused-says-apple/

Apple announced the new AirTag accessory at its Spring Loaded event a few days ago. The item-tracking accessory is the company's latest addition to its product lineup. While the price of the AirTag might be its main selling point, the functionality is also pretty useful when it comes to your everyday routine. You can simply attach an AirTag to any of your belonging and just forget about it and if it gets lost or misplaced, you can easily navigate to it in the Find My app. However, if your AirTag is lost or stolen it will be locked forever and cannot be reused unless found by the original owner.

In terms of size, the hands-on video shows the AirTag accessory as a very small device that you can attach to almost anything. However, it is a bit thicker to put inside of your wallet. It has now been revealed by Apple's senior director of sensing and connectivity, Ron Huang and that a lost AirTag is locked forever and cannot be used by anyone but the original owner (via Fast Company). Henceforth, the accessory is a complete waste for anyone who finds it.