An 18-year-old man has been arrested on suspicion of murdering a student who died in his “mother’s arms” after being fatally stabbed on a busy north-east London street.

Hussain Chaudhry, 18, a first-year law student, was stabbed in the neck in an attack in Walthamstow during rush hour on Wednesday.

He was pronounced dead at the scene after police and paramedics were called to Lea Bridge Road at around 5.20pm.

The Metropolitan Police said that an 18-year-old man was arrested on suspicion of murder on Friday evening and was taken to an east London police station where he remains in custody.

The force previously said that a post-mortem examination on Thursday gave Mr Chaudry’s cause of death as hypovolemic shock and a stab wound to the neck.

In a statement shared by police, his family said: “We are deeply grieved by the loss of our beloved Hussain and respectfully ask for the privacy and space to come to terms with this tragic situation.

“We thank everyone from the bottom of our hearts for their kindness, compassion, condolences, prayers and goodwill. We have no other comment at this time.”

His sister Afia Chaudhry earlier said on an online fundraising page that her “beautiful baby brother left this world the same way he came in, cradled in my mother’s arms”.

Mr Chaudhry’s friend Wahab Ahmed, who set up the page to build a mosque in his memory, described him as an “incredibly kind and beautiful soul”.

More than £27,000 in donations has been raised by the GoFundMe page set up in Mr Chaudry’s memory at gofund.me/e98c8e95.

Soas University of London said in a earlier statement it was “shocked and deeply saddened” to learn of Mr Chaudhry’s death.

Relatives previously said his mother and brother were also injured in the attack.

The Met said a man in his 20s and a women in her 40s, both related to Mr Chaudhry, had suffered slash injuries to their hands and were taken to an east London hospital for treatment.

The woman is still in hospital, but the man has since been discharged, the force said.

A 16-year-old boy who was arrested in connection with detectives’ investigation on Wednesday has been released under investigation.

Detective Chief Inspector Perry Benton, from the Met’s Specialist Crime Command, said: “A young man has lost his life in tragic circumstances and my thoughts remain with his family and friends at this awful time.

“I am continuing to appeal for any witnesses to come forward and speak with my team. Any piece of information could prove to be vital.”

Anybody with information can call the police on 020 8345 1570 or 101 and quote reference CAD 5697/17Mar or tweet to @MetCC.

Information can also be provided anonymously by calling the independent charity Crimestoppers on 0800 555 111.