> ..Using the checkm8 exploit originally made for iPhones, the checkra1n exploit was developed to build a semi-tethered exploit for the T2 security chip, exploiting a flaw. This could be used to e.g. circumvent activation lock, allowing stolen iPhones or macOS devices to be reset and sold on the black market.
> Since sepOS/BootROM is Read-Only Memory for security reasons, interestingly, Apple cannot patch this core vulnerability without a new hardware revision.
Crouching T2, Hidden Danger (2020-10-05) https://ironpeak.be/blog/crouching-t2-hidden-danger/
From what I could find, the encryption keys of the T2 are still secure but the OS running on it is not. Wiping the SSD and/or repairing another might be enough to resell the device without any locks but I'm not 100% sure about that.