A method for controlling an electronic device that is in communication with the server includes: in response to a lost mode activation signal from the server, controlling the electronic device to switch to a lost mode in which the electronic device is controlled to output a message that includes contact information of an owner of the electronic device, and an offer of a monetary compensation associated with recovery of the electronic device by the owner; and in response to determination that an unlock condition has been met, controlling the electronic device to switch to a normal mode.