if they or whoever buys it actually uses your account then they probably could, but if they delete yours and make a new one then probly not. they probly will delete yours for several reasons
1 they know if they use yours they could be traced.
2 they sell it to a gamestop store who then clears the HDD
3 whoever they sell it to, or buys it from gamestop or a pawn shop(if the HDD wasnt cleared) might clear it
it could even be used for parts to repair someone elses 360
i dont mean to sound negative but its a longshot that youll get it back with all your stuff or even get it backat all, if they got away cleanly thats probly gonna be one of the first items to go. only other hope is to track the serial number, check local gamestops or pawn shops or even microsoft maybe could look for the serial activating a new account. as long as you have proof its yoursby the serial number they have to give it back if it was stolen
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