Selective and efficient electrocatalysts are imperative for the successful deployment of electrochemistry toward synthetic applications. In this study, we used galvanic replacement reactions to synthesize iridium-decorated manganese oxide nanoparticles, which showed a cyclooctene epoxidation partial current density of 10.5 ± 2.8 mA/cm2 and a Faradaic efficiency of 46 ± 4%. Results from operando X-ray absorption spectroscopy suggest that manganese leaching from the nanoparticles during galvanic replacement introduces lattice vacancies that make the nanoparticles more susceptible to metal oxidation and catalyst reconstruction under an applied anodic potential. This results in an increased presence of electrophilic oxygen atoms on the catalyst surface during reaction conditions, which may contribute to the enhanced electrocatalytic activity toward cyclooctene epoxidation.