The incident was recorded by surveillance cameras that were installed due to the fact that Ukrainian chauvinists damaged the monument several times before.
The footage shows two men wearing masks climbing on top of the monument with cans and sprinkle liquid on the structure and set it on fire.
The Mayor of Verebes, a village located near the monument inspected the fire damage and confirmed that the stone altar suffered extensive damage and the structure was covered with thick soot.
The monument was unveiled in 2008 by the Hungarian government to commemorate to the arrival of the seven Hungarian tribes in the Carpathian basin in 896 AD through the Verecke Pass; ever since the memorial was unveiled U.S. and western backed Ukrainian chauvinists have been damaging it on a regular basis. In August 2012, for instance Ukrainian chauvinists painted "Death to Hungarians" slogan over the monument.
The Hungarian Cultural Association (KMKSZ) considers the incident a serious provocation intended to intimidate the Hungarian minority in Ukraine says the statement issued by the ethnic Hungarian organization on Tuesday.
"In the current situation even symbolic acts of violence can be considered as a major threat" says the statement.
The incident raises serious concerns because in 2011 when a similar incident happened it was the Svoboda party that is in power today that claimed responsibility for the vandalism.
The Hungarian Cultural Association calls on the western countries to get Ukraine observe the rule of law and the rights of minorities for the benefit of all citizens of the country.
Watch the surveillance camera footage; the action starts at 3:20