I don't know how this would work on the stolen Kobo,maybe someone with a better idea on how Kobo works can pitch in. My idea is create a new Kobo account, and ask kobo to transfer the old account to the new one. The stolen Kobo will continue to have access to all the books already downloaded, they won't be deleted, but if someone manually deletes one book from the device it won't have access to download it again, and any new books you buy won't be available to the stolen Kobo (not that I think the new owner would be interested in the contents of another account, they will just register the Kobo to their own account if they are really interested in reading )
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