Molden Heath is a region lying nominally within Minmatar space. However, the security level within the region is such that it more closely resembles a border region. There are stargate routes into Metropolis (1), Heimatar (2), and Derelik (1), as well as into the border (lo-sec) regions of Etherium Reach and Great Wildlands (1 each).
Hi-sec exists in 3 "islands" (1 of them only 1 system large) -- a quartet of systems around the Heimatar border (which form a sort of trade hub for the Heath, since it is where traders can safely come and go); a group of 5 systems which are 2 lo-sec jumps from the Metropolis border gate; and one lone system (Kattegaud), deep within the lo-sec waste (but with a Level-2 "dungeon").
All of this means that Molden Heath is a good area for many activities, if you are willing to balance the rewards with the risk to whatever ship you choose to take.
The local NPC flavour is the Angels, so "Here Be Trit Bars"