We determine the end point of the axisymmetric ultraspinning instability of asymptotically flat Myers-Perry black holes in D=6 spacetime dimensions. In the nonlinear regime, this instability gives rise to a sequence of concentric rings connected by segments of black membrane on the rotation plane. The latter become thinner over time, resulting in the formation of a naked singularity in finite asymptotic time and hence a violation of the weak cosmic censorship conjecture in asymptotically flat higher-dimensional spaces.