Earlier today I had to reauthorize the credentials in the project and when I did I choose OAUTH option. However I choose the wrong credentials in the browser and it overwrote everything I had locally with the metadata from the new org.
Posted Jul 13, 2017
Thank you for contacting us with this.
You can use the 'Re-authorize with OAuth authentication' option in the Project menu, specify the necessary credentials, and please pull from Salesforce after this.
Also, you can create a new project related to the needed Organization to proceed.
Please let me know if this helps to solve the issue you are faced with.
If you would have any other questions, please contact us. We will be happy to answer them.