diff --git a/PENDING.md b/PENDING.md
index 5d6a7e82d..05dd59ee0 100644
--- a/PENDING.md
+++ b/PENDING.md
@@ -58,6 +58,7 @@ BUG FIXES
   * [\#2921](https://github.com/cosmos/cosmos-sdk/issues/2921) Fix `keys delete` inability to delete offline and ledger keys.
 
 * Gaia
+  * [\#3003](https://github.com/cosmos/cosmos-sdk/issues/3003) CollectStdTxs() must validate DelegatorAddr against genesis accounts.
 
 * SDK
   * \#2967 Change ordering of `mint.BeginBlocker` and `distr.BeginBlocker`, recalculate inflation each block
diff --git a/cmd/gaia/app/genesis.go b/cmd/gaia/app/genesis.go
index d81d7d987..44cb9d2ee 100644
--- a/cmd/gaia/app/genesis.go
+++ b/cmd/gaia/app/genesis.go
@@ -213,8 +213,7 @@ func CollectStdTxs(cdc *codec.Codec, moniker string, genTxsDir string, genDoc tm
 	addrMap := make(map[string]GenesisAccount, len(appState.Accounts))
 	for i := 0; i < len(appState.Accounts); i++ {
 		acc := appState.Accounts[i]
-		strAddr := string(acc.Address)
-		addrMap[strAddr] = acc
+		addrMap[acc.Address.String()] = acc
 	}
 
 	// addresses and IPs (and port) validator server info
@@ -254,20 +253,30 @@ func CollectStdTxs(cdc *codec.Codec, moniker string, genTxsDir string, genDoc tm
 				"each genesis transaction must provide a single genesis message")
 		}
 
-		// validate the validator address and funds against the accounts in the state
 		msg := msgs[0].(stake.MsgCreateValidator)
-		addr := string(sdk.AccAddress(msg.ValidatorAddr))
-		acc, ok := addrMap[addr]
+		// validate delegator and validator addresses and funds against the accounts in the state
+		delAddr := msg.DelegatorAddr.String()
+		valAddr := sdk.AccAddress(msg.ValidatorAddr).String()
 
-		if !ok {
+		delAcc, delOk := addrMap[delAddr]
+		_, valOk := addrMap[valAddr]
+
+		accsNotInGenesis := []string{}
+		if !delOk {
+			accsNotInGenesis = append(accsNotInGenesis, delAddr)
+		}
+		if !valOk {
+			accsNotInGenesis = append(accsNotInGenesis, valAddr)
+		}
+		if len(accsNotInGenesis) != 0 {
 			return appGenTxs, persistentPeers, fmt.Errorf(
-				"account %v not in genesis.json: %+v", addr, addrMap)
+				"account(s) %v not in genesis.json: %+v", strings.Join(accsNotInGenesis, " "), addrMap)
 		}
 
-		if acc.Coins.AmountOf(msg.Delegation.Denom).LT(msg.Delegation.Amount) {
+		if delAcc.Coins.AmountOf(msg.Delegation.Denom).LT(msg.Delegation.Amount) {
 			return appGenTxs, persistentPeers, fmt.Errorf(
 				"insufficient fund for delegation %v: %v < %v",
-				acc.Address, acc.Coins.AmountOf(msg.Delegation.Denom), msg.Delegation.Amount,
+				delAcc.Address, delAcc.Coins.AmountOf(msg.Delegation.Denom), msg.Delegation.Amount,
 			)
 		}