Why copper wires submerged in salt (or fresh) water oxidize much faster while they conduct electrical current?
Electricity in a wire submerged in water effectively turns it into an electrochemical cell, and then it is no surprise that the anode gets oxidized pretty quickly. A modest potential of a few volts would suffice to oxidize any metal, even gold. This works for AC as well (a wire oxidizes during the positive half-wave and then does nothing during the other half-wave).