Galvanic replacement (GR) is a simple and widely used approach to synthesize hollow nanostructures for applications in catalysis, plasmonics, and biomedical research. The reaction is driven by the difference in electrochemical potential between two metals in a solution. However, transient stages of this reaction are not fully understood. Here, we show using liquid cell transmission electron microscopy that silver (Ag) nanocubes become hollow via the nucleation, growth, and coalescence of voids inside the nanocubes, as they undergo GR with gold (Au) ions at different temperatures. These direct in situ observations indicate that void formation due to the nanoscale Kirkendall effect occurs in conjunction with GR. Although this mechanism has been suggested before, it has not been verified experimentally until now. These experiments can inform future strategies for deriving such nanostructures by providing insights into the structural transformations as a function of Au ion concentration, oxidation state of Au, and temperature.