diff --git a/app/app.go b/app/app.go
index 5d4f51fb..048e8d9b 100644
--- a/app/app.go
+++ b/app/app.go
@@ -256,7 +256,7 @@ func (app *GaiaApp) LoadHeight(height int64) error {
 func (app *GaiaApp) ModuleAccountAddrs() map[string]bool {
 	modAccAddrs := make(map[string]bool)
 	for acc := range maccPerms {
-		modAccAddrs[app.supplyKeeper.GetModuleAddress(acc).String()] = true
+		modAccAddrs[supply.NewModuleAddress(acc).String()] = true
 	}
 
 	return modAccAddrs
diff --git a/app/app_test.go b/app/app_test.go
index 93b536db..2e8f877b 100644
--- a/app/app_test.go
+++ b/app/app_test.go
@@ -5,8 +5,8 @@ import (
 	"testing"
 
 	"github.com/stretchr/testify/require"
-	"github.com/tendermint/tm-db"
 	"github.com/tendermint/tendermint/libs/log"
+	"github.com/tendermint/tm-db"
 
 	"github.com/cosmos/cosmos-sdk/codec"
 	"github.com/cosmos/cosmos-sdk/simapp"
@@ -25,6 +25,16 @@ func TestGaiadExport(t *testing.T) {
 	require.NoError(t, err, "ExportAppStateAndValidators should not have an error")
 }
 
+// ensure that black listed addresses are properly set in bank keeper
+func TestBlackListedAddrs(t *testing.T) {
+	db := db.NewMemDB()
+	app := NewGaiaApp(log.NewTMLogger(log.NewSyncWriter(os.Stdout)), db, nil, true, 0)
+
+	for acc := range maccPerms {
+		require.True(t, app.bankKeeper.BlacklistedAddr(app.supplyKeeper.GetModuleAddress(acc)))
+	}
+}
+
 func setGenesis(gapp *GaiaApp) error {
 
 	genesisState := simapp.NewDefaultGenesisState()