I was curious. I have a Bulldog lock that was replaced under warranty when it wouldn't open. And it's not on a bicycle. So I went and bought some regular carbon steel hacksaw blades and some high-speed steel hacksaw blades at Northern Tool. I didn't see any abrasive ones.

Got home and tried the blades. It is like sawing on a coke bottle, just no cutting at all going on. I get the impression you could saw through about as easily using the back side of the blade. So whatever you use, don't expect that method to work.