Wax blockages generally do not cause a sudden loss of hearing, which is what the OP is complaining about (wax blockages tend to gradually muffle sound until there's nowhere left for the sound to travel to the tympanic membrane---it's very gradual)....unless the hearing loss occurred while the OP was gold mining with a Q-tip. If the hearing loss is accompanied with a sort of high pitched buzzing/ringing sound, that generally indicates a burst capillary in the tympanic membrane. That will generally take care of itself over a little time. Happens.
If, on the other hand, it happened while digging in the ear with a Q-tip, it could either mean he completely blocked the ear canal with wax, more likely, or ruptured the TM, less likely in this case because that's usually associated with pain and bleeding, and the OP never mentioned either.