With Apple’s mantra on privacy at WWDC, it’s a bit surprising that it managed to leave this relevant detail out of its on-stage spiel. Perhaps there wasn’t just enough time to cram all the juicy features coming in the next iteration of the Apple Watch platform, but a mere mention would have been enough for journalists to pick it up. That said, Apple did sneak it in the update web page for its Apple watchOS 2 preview, confirming once and for all that, yes, the Apple Watch will require your passcode to re-activate.
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https://www.slashgear.com/apple-watchos-2-will-have-activation-lock-to-deter-theft-09387459/