Jen,
I don't know what is happening, but seems very serious...you could remove the plant from basket and look at the roots, the problem can be there. Rebasketing with new media is another suggestion (accumulation of salts?). You coul also use fungicide (mancozeb - Dithane) and antibiotic (kasugamicine - Kasumim) to kill fungus and bacterias, but in this case you will need a professional advice.