I can't tell what you hooked up to, but it seems like the trailer hitch? I don't mean to be a kill joy... but that is not safe. I'm just glad it did not pop out and slingshot anyone in the face
I don't see a problem with it. I would inspect the bolts before I went yanking on it, but if they seem whole, pull away on that thing. You can pick up a car with just one small bolt.