Witnesses described seeing the 39-year-old Echeverria using a skateboard against attackers before he fell to the ground during last Saturday's attacks on and near London Bridge.
The phoney bombs were simply disposable water bottles wrapped in silver and black tape and attached to leather belts, although they were designed to create "maximum fear", police said.
Seven other people also died in the attack on June 3.
Haydon said authorities have not seen this tactic in the United Kingdom before, saying the terrorists had strapped on the fake suicide belts to create "maximum fear". "It is this knife that police have released images of today".
As investigators uncover more information relating to the attacks, it is becoming clear that the three terrorists, Khuram Butt, Youssef Zaghba and Rachid Redouane had been planning a much larger assault.
The sources verified that police, as part of their investigation, were talking to "schools in the area".
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At the time of the London attacks, Butt was out on bail in a fraud case dating to October previous year.
"Anyone who saw them on the night would have thought they were genuine".
Three men carried out the vehicle and knife attack nine days ago. It is hard to speculate what the motive was for wearing the belts.
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The men originally planned to have the woman drive them somewhere in her auto , but when she got in, the vehicle wouldn't start. A state-wide search for Rowe and DuBose had been underway since they made their escape from Eatonton, Ga. on Tuesday.
They have also revealed the fake suicide belts worn by attackers, which indicate they planned to take hostages.
The police had arrested 20 people from the scene that night.
After Butt's payment was declined, the trio of terrorists rented the smaller van that they used to plow into crowds before jumping out of the vehicle and going on a stabbing rampage that left eight people dead and nearly 50 injured. All three of the attackers were killed by the police who arrived at the scene, within eight minutes.
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The FBI said it was investigating the shooter's "activities and social media impressions" in the months leading up to the attack. Bailey was spotted Friday in the Capitol, on crutches and out of uniform, accepting congratulations from fellow officers.
Ms Hedge said it was "one quick go and that was it".