Cross-posting of my thoughts:
Bang on: it's basic galvanic corrosion of dissimilar metals.
The effect will be worse in a wet environment and particularly if there are any metal compounds dissolved in the water.
It's broadly GCSE chemistry and in simple terms, the less reactive metal is 'saved' while the more reactive metal is 'sacrificed' according to the following list:
Potassium > Sodium > Calcium > Magnesium > Aluminum > Zinc > Iron > Tin > Lead > Hydrogen > Copper > Mercury > Silver
Stainless steel comes in somewhere less reactive than copper, so it's a pretty safe bet that it's not going to dissolve away unless you leave it somewhere like Parys Copper Mine.
This is why boats have lumps of zinc on the outside of the hull - as a sacrificial anode to prevent the important stuff such as the (bronze) propeller from dissolving away.
Simple rule of thumb would be to use only stainless components for something left in place and ensure that dissimilar metals are not used - the bolt and hanger will (almost) invariably be stainless, so a stainless maillon would arguably be the only safe bet.
Going back a bit and without wishing to open a whole new (old) can of worms, it's possible to get hold of stainless maillons at relatively sensible prices, but they won't be PPE-spec and may not be stamped with a safe working load.
Firstly, PPE maillons are PPE mostly because they come with a pile of paperwork. Once you've got over that hurdle, you'll find that a marine or industrial supplier can get their paws on a non-PPE (and possibly non-stamped) maillon at about half the price. Although they're batch-tested, they're not stamped and thus they're not sold for lifting or as PPE.
I'm in the marine industry and sell 8mm and 10mm maillons for marine use in both galvanised and stainless versions - the stainless 8mm has a tested breaking load in excess of 4 tonnes, so I'm happy to hang off them all day long. But, some people will still say "it's not PPE, so it's not safe": it depends on your definition of "safe" but I'm not going to worry about whether a maillon can take 2 tonnes, 3 tonnes or whatever of shock loading - because my body certainly won't.
Hello again darkness, my old friend...