Mr Hickey, 71, was a senior member of the International Olympic Committee (IOC) as well as the top Olympic official in Ireland.
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Sports minister Shane Ross, who is in Rio and who met Hickey at the weekend to discuss the ticket sales allegations, tweeted simply: “Shell shock here in Rio”.
Mallon and interpreter Barbara Carnieri were arrested earlier this month for allegedly being in possession of over 1,000 tickets for the Olympic Games that they were not authorised to sell.
Meanwhile, The Olympic Council of Ireland (OCI) has said it will fully co-operate with a widely expected independent state inquiry into the ticket routing scandal.
In a statement this afternoon, the body also said it will also commission its own inquiry into the scandal, in which Minister Shane Ross had unsuccessfully asked for an independent figure to partake.
Warrants have also now been issued for the arrest of three directors of Pro10; Michael Glynn, Ken Murray and Eamon Collins.
In a statement released to the media, THG Sports said they would welcome such an inquiry, which they say will prove that they have operated lawfully at all times.
He was admitted to hospital with chest pains after his arrest, but was discharged on Thursday and taken to a Rio police station.
Hickey was questioned by police in Rio de Janeiro overnight, after leaving the Samaritano Hospital, in the suburb of Barra under police escort in the direction of the Carlos Eboli Criminal Institute in downtown Rio.
Police said Ireland’s Olympic body helped transfer tickets to an unauthorised vendor who would set high fees and disguise the transaction as a hospitality package.
Mr Hickey has been formally accused under Brazilian law of ticket touting, running a cartel and illicit marketing.
This is a stage in the legal process that is not equivalent to being charged in British law but is a preliminary step in that direction. More than 700 tickets organized in envelopes clearly marked for sale were found in a safe with Mr Mallon, Detective Ricardo Barbosa told BBC.
Hickey has temporarily stepped down from the OCI and from his role as the president of the European Olympic Committee (EOC) during the investigation.
Another company, Pro10 Sports Management, are the ATR for these Games, however, meaning THG Sports had no rights to sell any.
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But Detective Barbosa told the BBC that investigators believed “Pro 10 was created as a means for acquiring tickets to be resold by THG” as the Irish Olympic Committee had wanted THG to sell tickets for Rio 2016, he alleged.
