We present inelastic light scattering data on a single crystal of magnetite (Fe3O4) across the Verwey transition. We identify anomalies of the lattice vibrations that originate from strong coupling to electronic excitations. We reveal spectroscopic signatures of diffusive modes in the electronic contribution to the Raman response function. We thereby provide information on the critical dynamics and the hierarchy of the structural and electronic modes in the mechanism of the Verwey transition.