William Downie, 28, was chased into a garden and stabbed in Hamilton, South Lanarkshire, on Saturday.
His body was found by officers called to the town's Russell Street following reports of a disturbance. Detective Inspector Paul Swinburne, of Strathclyde Police, said Mr Downie, who lived locally, was the victim of a "frenzied attack".
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Hide AdA police statement said today: "Two men, both aged 41, have been arrested and are currently detained in police custody."