It looks like Valve is really taking things seriously when it comes to eliminating cheat threats from its system and games. Case in point, this week will likely go down in history for being the week when more than 95,000 Steam bans were issued.
Of course, you can see all the data online; after all, we live in a digital age. Just head over to SteamDB and check the stats for July 18 and July 19. Impressive, right (unless you're a cheater yourself)? Nobody can say for sure what "forced" Valve to "approve" so many bans in these 2 days alone. Apparently, it can all be related to a previously unrecognized cheat that has now been detected by the VAC system.
At the time of writing, it seems that the main "banning wave" is over, as the stats from July 20 and July 21 are pretty low. Still, this doesn't mean that everyone is safe and sound now.
The best way to make sure that you are not at risk of being banned is to - naturally - avoid cheating your way in games, no matter the circumstances. The VAC system is constantly monitoring a good number of popular games, some of which are Left 4 Dead, Left 4 Dead 2, the Call of Duty series, Team Fortress 2, Ark: Survival Evolved and Counter-Strike: Global Offensive. If you've played any of these games, chances are you've come across players who seem like they are always one step ahead of you. Yes, they might actually be cheaters.
Ultimately, if you don't think these VAC ban stats are anything to brag about, you can trust Reddit to prove you wrong. For example, here's a Steam user who lost more than $30,000 worth of CS:GO skins as a result of the Steam bans. That must've hurt!