Why has my new headset suddenly become very quiet?

I've recently bought a pair of Razer Krakken 7.1 headphones within the last few days and all of a sudden the sound on full volume is very quiet and a static/muffled sound can be heard. The strange thing about this is that all of the computers system sounds are full volume and clear, my media applications and web browser are quiet and muffled, and the games I've tried like minecraft and runescape play no sound at all

Have you downloaded razer synapse? Maybe it can help you since its the program for all razer related stuff. If not go to your local shop or where you bought it and get a IT guy to check them for you. If it doesn't work you can always refund.

P.S. Check your USB cable connection to the pc. It might be lose