Very possible, seems I had a good amount of small snails (recently purchased) that maybe died out and a conch that died as well. No fish or coral losses. Removed a majority of the snails and the conch last night and syphoned out a large amount of the sand that had the funk on it.
If you have snails dying might be Dino.. If that is the case remove the snails they will only help the bloom go longer and stronger.. What I did to stop my bloom was i stopped all water changes, cut my halides way back, and did water top offs with kalcwasser.. Took me about a month but it worked!! Hope it helps here is what mine looked like..