An ATM is showing the bank balance of everyone who's used it on a leaderboard

We've all been told to watch out for fake ATMs when withdrawing money, but when you're at Art Basel you have to look out for a whole new type of ATM.

Art spectators from around the world have gathered together in Miami, Florida to attend the annual Art Basel, an international art exhibition.

Notoriously, the event attracts wealthy and famous people and it seems one exhibition is capitalizing on that by featuring an ATM that reveals a person's bank account balance.

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Designed and created by the Brooklyn art collective MSCHF in collaboration with Perrotin Gallery, the "ATM Leaderboard" snaps a photo of a guest while they're using the ATM and then ranks them based on their bank balance in a video-game-like leaderboard.

A video taken at Art Basel shows that the number one spot belongs to an unknown man wearing a pink shirt who has an account balance of $2,989,381.60.

As of Thursday, nobody had topped the unknown man's bank balance.

Daniel Greenberg, the co-founder of MSCHF told CNNthat the "ATM Leaderboard "is an extremely literal distillation of wealth-flaunting impulses."

"From its conception, we had mentally earmarked this work for a location like Miami Basel, a place where there is a dense concentration of people renting Lamborghinis and wearing Rolexes. These are analogous implicit gestures to the ATM Leaderboard's explicit one," Greenberg said.

In a video posted to Twitter by Joel Franco, a guest demonstrated how the ATM works.

Upon inserting their debit card, the ATM snaps a photo of the guest then an animation appears of money being flushed down a toilet.

@OfficialJoelF

"Thanks for playing," the ATM says before showing the user where they rank on the leaderboard.

The annual art event often features outrageous and thought-provoking work like the "ATM Leaderboard". Three years ago, an artist sold a banana taped to the wall for $120,000.

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