We show that for every positive $ε> 0$, unless NP $\subset$ BPQP, it is impossible to approximate the maximum quadratic assignment problem within a factor better than $2^{\log^{1-ε} n}$ by a reduction from the maximum label cover problem. Our result also implies that Approximate Graph Isomorphism is not robust and is in fact, $1 - ε$ vs $ε$ hard assuming the Unique Games Conjecture. Then, we present an $O(\sqrt{n})$-approximation algorithm for the problem based on rounding of the linear programming relaxation often used in the state of the art exact algorithms.