The Secure Enclave on the T2 chip was used to store secrets that were supposed to stay inaccessible, even to someone with physical access. If you use a strong

The Secure Enclave on the T2 chip was used to store secrets that were supposed to stay inaccessible, even to someone with physical access. If you use a strong password to encrypt your drive you should still be safe, unless Apple did something really stupid. The password is used as a one-way hash to generate the key. However if you can login with Touch ID and they find a way to use known SE exploits, it's compromised. Your fingerprint isn't a secret that gets hashed – instead it's verified by the SE which also holds the secret key for the drive.