Ace1,
Water quality changes can cause Hermits to crawl out of their shell and die. I've seen it occur most during salinity changes. I'm sure pH and Alkalinity are a big factor here as well.
Was the tank cycled? If it wasn't cycled, a Ammonia or Nitrite spike could have easily killed him.
Don't lose hope - as others have said it might just be a molt. Keep watching the shell. After molting, a Hermit crab is soft and vulnerable. While their exoskeleton hardens, they often hide or/and stay in their shells.