Recall that Dh150 million ($40.8m) was recovered from him in cash. It has been confirmed that about 13 luxury cars were also recovered from him.
Hushpuppi, according to Dubai police, creates websites that appear identical to those of well-known companies and banks, then sends emails and messages that prompts users to log in or make payments on the fake sites.
Mr Abbas is accused of being part of a gang that hacked corporate emails and directed huge payments to accounts they controlled.
Olalekan Jacob Ponle, known as Woodberry, was also arrested along with 10 other men in an operation that involved six police teams.
Police confiscated 13 luxury cars, valued at about Dh25m, 21 computers and 47 smartphones during the raid.
They said the email addresses of 800,000 people were found and Dh1.6 billion could have been stolen from victims of the alleged scam.
Posts on Hushpuppi's account suggest a lavish lifestyle, with images of him taking trips on a private jet, wearing Louis Vuitton tracksuits and a Dh550,000 Richard Mille watch, and posing outside the Four Seasons hotel in Paris.
A video of a wedding in Dubai attended by Nigerian celebrities, which made headlines online, showed Hushpuppi dancing as he threw $100 notes into the air.
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