Stolen iphone is in Shengzhen China and I am getting a lot of spam/phishing attack

DO NOT remove the phone from your account. As long as it is listed in your account the phone will be useless to anyone who has it. If you have notified your carrier the SIM card in it is useless.

One last thing: Beware of a common phishing scam: You may get a text or email from “Apple” or “Apple Security” (or sometimes “Police”) saying your phone has been found and to click on a link to see its location. This is NEVER from Apple or from law enforcement; it is from the thief or fence to steal your Apple ID and identity. Delete any such message without responding to it. Apple never gets involved in lost or stolen devices→Avoid phishing emails, fake ‘virus‘ alerts, phony support calls, and other scams

Glitchy_We wrote:

Do I need to worry about my personal info when iphone is in lost/stolen mode? What are other things that I can still do to protect my data/ info on my stolen iphone?

Keep the iPhone on your Find My! As long as it stays in Lost Mode, it's useless to anyone. The scammers certainly aren't doing you a favor by offering to keep your personal information safe (which they don't have, and can't get). Even if the device is never connected to be wiped, it can't be erased, and it certainly can't have personal information extracted from it.

As for the texts, just ignore them (or hit 'Report Junk') to send to Apple. They can't do anything as long as you don't reply.

If your iPhone, iPad, or iPod touch is lost or stolen - Apple Support