I had a very similar problem on my Tek 475 oscilloscope. When pressing beam find the trace would show but advancing the intensity and moving all the horizontal and vertical controls didn't work. Even disconnecting all the horizontal and vertical deflection pins would now show a trace except for pressing the beam find button.
Turns out all that went bad was one transistor on the input of the external Z-axis input shorted.
My first step in your situation would be to trouble shoot the Z-axis amplifier.
If the Z-axis amplifier is working, try looking at the trigger board. My 475 gets it's blanking signal from the trigger board.
Not sure if the 468 and 475 work similarly enough that this advice is useful, but they're close matching so I hope they work in similar ways.