The accused, Noor Aziz Uddin, was arrested from his residence here during a pre-dawn raid conducted by the Pakistan's Federal Investigation Agency (FIA).
Aziz Uddin's two sons, and his companion Arshad Farhan were also reportedly detained during the raid led by Cybercrime Circle deputy director Mir Mazhar Jabbar.
A senior FIA official confirmed that Aziz Uddin was arrested for his role in major cyber-crimes he committed on the Pakistani soil.
According to the FBI website, Aziz Uddin was involved in an international communication scheme and hacking venture that defrauded several companies and individuals of over USD 50 million from November 2008 to April 2012. FBI had also offered a reward of up to USD 50,000 for information that leads to his arrest.
The international scheme involved members of a criminal organisation that extended into Pakistan, Philippines, Saudi Arabia, Switzerland, Spain, Singapore, Italy, and Malaysia, among other nations.