Lancashire Police said the 34-year-old man from Kidderminster, Worcestershire, was arrested on suspicion of malicious communications and perverting the course of justice in connection with the search for Ms Bulley.
On February 19, Ms Bulley’s body was discovered in the River Wyre in Lancashire.
The arrest is related to footage taken from inside a police cordon on that day, which was then posted online, according to the force.
The man was apprehended with the assistance of West Mercia Police on Wednesday morning and has since been released on bail with conditions.
According to Lancashire Police: “Our top priority is and has always been to help Nicola’s family and the wider St Michael’s community. We hope that this arrest provides reassurance that we take concerns seriously and will take appropriate action “.
It comes after reports of a swarm of apparent content creators descended on the village where Ms Bulley vanished.
After a three-week search, police recovered a body from the river on February 19, which was later identified as the missing mother-of-two.
Ms Bulley, 45, was last seen walking her dog in St Michael’s on Wyre on January 27.
Soon after, the springer spaniel was discovered, as was Ms Bulley’s phone, which was discovered on a bench beside a steep riverbank. The phone was still on a business conference call.
According to experts, the waves of online interest in Ms Bulley’s case were fueled by social media algorithms that reward and encourage controversial content.
Detective Superintendent Rebecca Smith stated that social media users were “playing their own private detectives” during the investigation.