This means that the shutter is sticking open and bleaching everything out, the shutter has nothing to do with the live view which you get on the LCD screen. The fault can just happen out of the blue, but is most common on cameras which are rarely used: the lubricant films dry out if not used and gum up the works.
The only fix is to replace the shutter assembly, but the repair costs more than the camera is worth.
You can prevent this sort of fault occurring by using cameras regularly, even if it's only for one day a month, this spreads the lubricants around on the moving parts of the camera and prevents them from drying out.
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