The woman killed during an alleged stabbing rampage in Sydney's CBD has been identified.

UPDATE: Sydney stabbing victim Michaela Dunn's friends pay tribute to the 'sweetest girl'

Michaela Dunn, 24, was found with fatal stab wounds to her neck and throat on Tuesday afternoon.

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Police made the grim discovery at an apartment on Clarence Street about 3.15pm, an hour after alleged knifeman Mert Ney was taken into custody.

He is accused of fatally stabbing Ms Dunn, as well as stabbing a 41-year-old Linda Bo in the back, during a six-minute rampage.

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The older woman was taken to hospital in a stable condition and received treatment for the single wound.

Police are investigating the circumstances surrounding Ms Dunn's death and how she came to be in contact with Ney.

Globetrotter

Ms Dunn's social media presence shows a taste for travel - uploading a number of photos from her trips, including one at the canals in Venice.

She had also travelled to the United States and Sri Lanka in the past 12 months.

Michaela's social media presence showed a taste for travel. Credit: Facebook

Ms Dunn had previously spoken out against sexual violence and harassment.

In a Facebook post dated May 2016, she wrote: "Sexual violence and harassment is never acceptable. Take two minutes to read and sign this petition, it's such an important issue that needs to be addressed sooner than later."

Remembering 'Mikki'

A friend posted to Twitter shortly after it was revealed Ms Dunn was the victim, calling her "incredible".

"Mikki was a true delight to know," she wrote.

"The violence in this country cannot continue."

Michaela's accused killer is expected to be charged with murder on Wednesday. Credit: Supplied

Detectives believe Ney visited the CBD apartment "for the purposes of prostitution" and had phone contact with Ms Dunn before his arrival.

After about 20 minutes inside the apartment complex, he was captured on CCTV walking out of the building soaked in blood.

Family requests privacy

In a brief statement, police confirmed the victim was Ms Dunn.

"While her family appreciate the support offered by the community, they have requested their privacy at this difficult time," it reads.

"The investigation into the circumstances surrounding Michaela’s murder is being led by detectives from the Homicide Squad under Strike Force Lalchere."

Ney is expected to be charged with murder sometime on Wednesday afternoon.

Industry 'devastated'

The Scarlett Alliance - a joint venture between the Australian Sex Workers Association and Sex Workers Outreach Project of New South Wales - extended their sincere condolences to those affected by the attack.

"The sexworker community is devastated by the series of random and senseless acts of violence that occurred in the Sydney CBD," a statement read.

Police are investigating the circumstances surrounding Michaela's death. Credit: Facebook

"There is significant stigma and discrimination experienced by sex workers and too often our identities, lives and experiences are reduced to our occupation.

"Sex industry workers are worthy of the same rights and protections as those working in other professions.

"They are equally deserving of empathy and consideration when befallen by tragedy."