The student, a fresher, has been provided counselling, said Mosiuddullah Reza, Additional Superintendent of Police in Chittagong district, on Wednesday.
He was reported to the police by a fellow student. "A student who has been staying in the same hall as him told me about this over Facebook messenger."
"We got him in custody through the university authorities and have provided him with counselling," Reza added.
The news comes a day after the BTRC released an alert saying that the game was being played by youths in Bangladesh.
The Blue Whale challenge that has been targeting depressed youths provide participants with a series of tasks over a 50-day period. The final task challenges the player to take their own lives.
An online pressure group allegedly assigns a curator to individual players, who then encourages them to complete the stages which become increasingly harmful.