WiFi stopped working (dhcpd times out) after enabling device encryption

On my Samsung Galaxy Nexus running AOKP 4.2 JellyBean, WiFi has worked without issue before on this exact same hotspot, and it is currently working for other devices, so I'm assuming the error is in the phone. After trying another hotspot, I could see that the WiFi is definitely dead. But after enabling encryption on my device, it gets stuck in a loop. It detects the actual network, but it goes like this: Saved with X authentication > Authenticating> Obtaining IP address > (Repeat) I also tried deleting the network and adding it again without success, thinking it had something to do with the cached WPA key. Is there anything I can do to troubleshoot before I just wipe and reinstall? Is this some kind of known issue?