"The Egyptian Museum overlooking Tahrir Square in Cairo’s city center was vandalized Friday night by nine convicts, who broke artifacts and attempted to steal two mummies. Convicts were forced to leave the mummies behind when they broke into pieces as they carried the ancient artifacts towards the museum doors. A reporter from Al-Masry Al-Youm’s Arabic edition saw the damage this morning and Al-Arabeya news channel has been showing the first footage shot within the museum Saturday afternoon."

Quoted Text From:
Al Masry Al Youm (Egypt Today)

Pictures of the looted building:
Pic 1
Pic 2
Pic 3
Pic 4 - Army securing Building

However it appears that the public first formed a human chain around the museum to stop any would-be additional looting from taking place. As of now, there are new reports of the military taking positions around the museum to secure the building as well.

Sources:
Herald Sun - Egyptians form chain to protect King Tut
Salon.com

*Image copyright Associated Press via Yfrog