Yes, absolutely! This is exactly why it’s extremely important to have your brake fluid (hydraulic) system in good working order.  This doesn’t mean that you have to throw away your brake pads.  To clean the contaminated compounds off place them down on concrete with the friction material facing up.  Please do this outside of a home or building in a safe environment.  Then, take a hand torch and go side to side (left to right) across the surface of the brake pads to burn off the brake fluid.  You can also take the brake pads to a surface grinder to take off the contaminated friction material if you do not want to use a torch. G-Loc Brakes, LLC recommends consulting with a properly trained technician before performing this procedure.