The water causes corrosion and provides circuit paths for the electricity which were not in the earphone’s operating design and could damage the components. The corrosion starts immediately and doesn’t stop until it has been properly cleaned away.
Do not try to charge or to turn on the earphones and remove the battery as soon as possible so as to minimize any further problems.
Then you need to disassemble the rest of the device and clean all the affected parts using Isopropyl Alcohol 99%+ (available at electronics parts stores) to remove all traces of corrosion. Do not use "rubbing alcohol" as in some cases this is only 70% IPA or less, can contain additives and is not as effective. If you do have to use it, check the label to verify the amount of IPA. The higher the concentration (%) of IPA the better
Here is a link that describes the process. Electronics Water Damage
As always with electronics, especially surface mounted pcb, be gentle when handling and especially when brushing away the corrosion. You do not want to remove any components from the board.
The battery may have to be replaced. Check the type number and search online using the number.
Hopefully after you have done all this, they might possibly work correctly again.
Here is a link to the ifixit V-Moda Crossfade Wireless Headphones Battery Replacement guide that may help.
You can only try and see if this resolves the problem.