The FDR and CVR are not magical, they can fail. So can the components of the aircraft that feed them data.
E.g. if there were something wrong with the microphones in the cockpit, the CVR would not record anything being said there. At most it'd record static.
Same if there were a fault in the data cable feeding the data to the recorder (I assume most of those circuits are at least dual redundant, but at some point it all comes together in a single plug).
If the CVR isn't properly connected to the aircraft, it won't record anything.
This can happen, and it doesn't have to be some malignant act. A simple error in a maintenance procedure can do it.
It wouldn't be the first time a flight recorder holds no useful data.
There have been other instances where the events that eventually caused the crash themselves caused the data feed to the recorders to be interrupted some time before the crash for example.