An arrest was made in the killing of Cash App founder Bob Lee, a San Francisco Board of Supervisors member said on Thursday.

Lee, an executive at cryptocurrency firm MobileCoin, was killed in the early morning hours on April 4 in the San Francisco neighborhood of Rincon Hillon, the San Francisco Police Department said last week.

He died last week after "apparent stab wounds," the police said.

"I'm grateful to the [San Francisco Police Department's] Homicide Detail and all the officers from [SFPD Southern Station] and elsewhere for their tireless work to bring Bob Lee's killer to justice and for their arrest of a suspect this morning," San Francisco Board of Supervisors member Matt Dorsey said.

"Obviously, nothing can undo this senseless crime, and we reiterate our condolences to Mr. Lee's family members, friends and colleagues," he added. "But I hope today's arrest can begin a process of healing and closure for all those touched by this tragedy."

This is a developing story. Please check back for updates.