For any seemingly impenetrable object out there, there's someone who has looked at it and thought to themselves... "I should shoot that." Handcuffs are no exception. Supposedly this video is a myth-busting endeavor meant to prove whether or not handcuffs can be shot open like they occasionally do in the movies, but we're pretty sure the underlying motivation is... well, it's fun to shoot stuff.
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In this video we found thanks to Guns.com, Edwin Sarkissian uses a Glock to try and shoot open a pair of S&W cuffs. As to whether or not he is successful, well... you'll just have to watch the video.
The short answer is, of course, yes- if you shoot a gun at a pair of handcuffs there's a good chance that (at least on the third or fourth try) they'll come apart. As to whether that's a viable option in an emergency... you're probably better off investing in a universal handcuff key that you can keep on your person. Less risk of shooting your hand off.