What is off on this Newhouse OC #6?

Something looks a bit off on the base and chain, was it blasted? Is the chain from another trap? Ring looks reattached? ....Just curious and thought a more seasoned collector would know.

The base is pitted from rust. It was over cleaned and then painted. The holes in the base are not original, probably drilled to bolt it to a wall for display. The chain ring is not original.