I was right, this feature actually used to exist, and it’s a bug that we lose cloud events now:
It was driving me crazy because I just knew Wyze had already fixed it so we wouldn’t lose cloud events with a theft of camera, so I was thinking I must be suffering a false memory.
So I did some research/digging and found that I was right. Wyze already fixed this issue once. There was a wishlist, and got implemented and updated to “Wishes Granted” years ago. See this wishlist which shows it’s now been implemented to prevent us losing cloud footage:
Then on Oct 10th 2019, someone noted that this wishlist got updated to “In Development” and then on Nov 3rd 2019 we have a user confirming that this feature was implemented
Here we have one of the Mavens confirming that this issue got resolved with the 2.6.36 app:
And another former Maven confirming the cloud recordings were fixed to not disappear anymore:
And another volunteer, a Mod (Maven at the time) saying cloud events shouldn’t be removed anymore:
So, it looks like someone at Wyze inadvertently ruined this feature that was already implemented back in 2019. I thought my memory couldn’t be that bad and I was right that it used to keep cloud events when a camera was stolen. I don’t know when that stopped, but due to this written history, we can conclude that this issue is officially a “Bug” now. So now we can submit it this coming “Fix-it-Friday” event as the number 1 high-impact issue that needs priority. I recommend we all vote for it then so we can make sure they give us weekly reports on their progress with fixing this issue. It counts as a bug and not a feature request because Wyze already implemented it and moved it to “Wishes Granted” so it absolutely qualifies as a bug they need to fix now, not just a feature we requesting/wanting, but one they already promised us exists right now and isn’t working properly.
I will also try to pass this info along to some employees in back channels because I would call this a critical bug.
I did not realize that this ever changed until now. Thank you to everyone who checked and verified this.
If anyone has any evidence of when this issue started happening again, I’d appreciate anything shared. I do see that link from SlabSlayer confirming this issue was this way since at least October 2023. I’m sure it happened before that though. I wish we knew when, and I’m sorry I didn’t realize things changed until now, but I’ll be contacting some people about it and I still think we should all vote for it on Fix it Friday in the next week or so when that event starts so we can force public weekly reports on the progress.
Anyway, just wanted to share with everyone what I found out in my digging so far. I think we have a good case to press Wyze for a resolution quickly. 
(Edit: The firmware release notes also show it was fixed around these times)
Public Release notes:
Direct Link to the FIRST Public Release Note here (the next one is right above it in the Dec 17 2019 release):
https://support.wyze.com/hc/en-us/articles/360024852172-Release-Notes-Firmware#:~:text=device%20trigger%20Rules-,Event%20videos%20are%20now%20available%20even%20if%20the%20Wyze%20Cam%20is%20removed%20from%20the%20account,-Improved%20sharing%20experience